Family Asset Management LLC Reduces Stock Holdings in iShares U.S. Basic Materials ETF (NYSEARCA:IYM)

Family Asset Management LLC trimmed its holdings in iShares U.S. Basic Materials ETF (NYSEARCA:IYM) by 43.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,916 shares of the company’s stock after selling 1,470 shares during the period. Family Asset Management LLC’s holdings in iShares U.S. Basic Materials ETF were worth $265,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Graypoint LLC purchased a new stake in shares of iShares U.S. Basic Materials ETF in the fourth quarter valued at about $212,000. Kellett Wealth Advisors LLC purchased a new position in iShares U.S. Basic Materials ETF during the fourth quarter worth $1,195,000. Navis Wealth Advisors LLC raised its holdings in shares of iShares U.S. Basic Materials ETF by 1.1% in the fourth quarter. Navis Wealth Advisors LLC now owns 7,845 shares of the company’s stock worth $1,084,000 after acquiring an additional 87 shares during the last quarter. PGIM Custom Harvest LLC lifted its position in shares of iShares U.S. Basic Materials ETF by 1.2% in the third quarter. PGIM Custom Harvest LLC now owns 286,918 shares of the company’s stock valued at $36,244,000 after acquiring an additional 3,399 shares in the last quarter. Finally, Milestone Advisory Partners lifted its position in shares of iShares U.S. Basic Materials ETF by 15.7% in the third quarter. Milestone Advisory Partners now owns 24,937 shares of the company’s stock valued at $3,150,000 after acquiring an additional 3,381 shares in the last quarter.

iShares U.S. Basic Materials ETF Stock Performance

iShares U.S. Basic Materials ETF stock traded up $0.95 during midday trading on Monday, reaching $142.50. 15,096 shares of the company were exchanged, compared to its average volume of 31,351. The firm’s 50-day simple moving average is $143.48 and its 200-day simple moving average is $135.77. iShares U.S. Basic Materials ETF has a 1 year low of $119.22 and a 1 year high of $149.79. The company has a market capitalization of $655.50 million, a price-to-earnings ratio of 13.33 and a beta of 0.88.

About iShares U.S. Basic Materials ETF

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.