iShares U.S. Basic Materials ETF (NYSEARCA:IYM) Sets New 52-Week High – Time to Buy?

iShares U.S. Basic Materials ETF (NYSEARCA:IYM)’s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $177.88 and last traded at $175.56, with a volume of 264431 shares traded. The stock had previously closed at $175.26.

iShares U.S. Basic Materials ETF Price Performance

The company’s fifty day moving average price is $156.21 and its 200 day moving average price is $149.82. The company has a market cap of $1.09 billion, a PE ratio of 22.43 and a beta of 1.07.

Institutional Investors Weigh In On iShares U.S. Basic Materials ETF

Several large investors have recently modified their holdings of IYM. Farther Finance Advisors LLC raised its stake in iShares U.S. Basic Materials ETF by 4,600.0% in the 2nd quarter. Farther Finance Advisors LLC now owns 282 shares of the company’s stock valued at $39,000 after acquiring an additional 276 shares during the period. AE Wealth Management LLC lifted its position in shares of iShares U.S. Basic Materials ETF by 9.2% during the second quarter. AE Wealth Management LLC now owns 15,740 shares of the company’s stock worth $2,204,000 after acquiring an additional 1,328 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of iShares U.S. Basic Materials ETF by 5.4% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 3,818 shares of the company’s stock valued at $552,000 after purchasing an additional 196 shares in the last quarter. AlphaCore Capital LLC purchased a new stake in iShares U.S. Basic Materials ETF during the 2nd quarter worth about $110,000. Finally, Park Avenue Securities LLC increased its position in shares of iShares U.S. Basic Materials ETF by 17.2% during the second quarter. Park Avenue Securities LLC now owns 3,278 shares of the company’s stock valued at $459,000 after buying an additional 480 shares during the period.

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.