iShares U.S. Basic Materials ETF (NYSEARCA:IYM) Short Interest Update

iShares U.S. Basic Materials ETF (NYSEARCA:IYM) was the target of a significant growth in short interest in the month of February. As of February 27th, there was short interest totaling 81,720 shares, a growth of 90.6% from the February 12th total of 42,886 shares. Based on an average trading volume of 121,456 shares, the days-to-cover ratio is presently 0.7 days. Currently, 1.3% of the company’s shares are sold short. Currently, 1.3% of the company’s shares are sold short. Based on an average trading volume of 121,456 shares, the days-to-cover ratio is presently 0.7 days.

iShares U.S. Basic Materials ETF Stock Down 2.0%

IYM stock traded down $3.52 during midday trading on Friday, reaching $173.42. The stock had a trading volume of 50,074 shares, compared to its average volume of 160,210. The firm has a market cap of $1.09 billion, a price-to-earnings ratio of 22.43 and a beta of 1.07. iShares U.S. Basic Materials ETF has a twelve month low of $115.07 and a twelve month high of $189.80. The business has a fifty day simple moving average of $176.42 and a two-hundred day simple moving average of $158.16.

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

A number of institutional investors and hedge funds have recently modified their holdings of the business. Corient Private Wealth LLC bought a new position in iShares U.S. Basic Materials ETF in the fourth quarter valued at approximately $1,354,000. Astoria Portfolio Advisors LLC. bought a new stake in shares of iShares U.S. Basic Materials ETF during the 4th quarter valued at $715,000. Strive Financial Group LLC acquired a new position in shares of iShares U.S. Basic Materials ETF in the 4th quarter valued at $39,000. Financial Planning Fort Collins LLC acquired a new position in shares of iShares U.S. Basic Materials ETF in the 4th quarter valued at $2,902,000. Finally, Virtue Capital Management LLC bought a new position in shares of iShares U.S. Basic Materials ETF in the 4th quarter worth $309,000.

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.