iShares U.S. Basic Materials ETF (NYSEARCA:IYM) Reaches New 12-Month High – Here’s Why

iShares U.S. Basic Materials ETF (NYSEARCA:IYM) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $166.23 and last traded at $166.15, with a volume of 29422 shares traded. The stock had previously closed at $164.94.

iShares U.S. Basic Materials ETF Price Performance

The firm has a fifty day simple moving average of $150.11 and a two-hundred day simple moving average of $147.66. The firm has a market capitalization of $909.06 million, a P/E ratio of 22.43 and a beta of 1.07.

Hedge Funds Weigh In On iShares U.S. Basic Materials ETF

Several hedge funds have recently made changes to their positions in IYM. The Manufacturers Life Insurance Company purchased a new stake in shares of iShares U.S. Basic Materials ETF during the 2nd quarter valued at $44,278,000. Tcfg Wealth Management LLC purchased a new position in iShares U.S. Basic Materials ETF in the 3rd quarter valued at about $4,901,000. Laurel Wealth Advisors LLC increased its stake in iShares U.S. Basic Materials ETF by 13,901.4% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 19,602 shares of the company’s stock worth $2,744,000 after buying an additional 19,462 shares in the last quarter. Bank of America Corp DE lifted its position in shares of iShares U.S. Basic Materials ETF by 5.2% in the second quarter. Bank of America Corp DE now owns 131,814 shares of the company’s stock valued at $18,455,000 after acquiring an additional 6,462 shares in the last quarter. Finally, Mutual Advisors LLC lifted its position in shares of iShares U.S. Basic Materials ETF by 297.6% in the second quarter. Mutual Advisors LLC now owns 7,750 shares of the company’s stock valued at $1,148,000 after acquiring an additional 5,801 shares in the last quarter.

iShares U.S. Basic Materials ETF Company Profile

The iShares U.S. Basic Materials ETF (IYM) is an exchange-traded fund that mostly invests in materials equity. The fund tracks a broad, market-cap-weighted index of US basic materials companies that includes raw materials such as metals, chemicals and forestry products. IYM was launched on Jun 12, 2000 and is managed by BlackRock.