iShares U.S. Basic Materials ETF (NYSEARCA:IYM) Reaches New 1-Year High – Time to Buy?

iShares U.S. Basic Materials ETF (NYSEARCA:IYM)’s share price hit a new 52-week high on Monday . The company traded as high as $155.68 and last traded at $155.68, with a volume of 1107 shares. The stock had previously closed at $152.37.

iShares U.S. Basic Materials ETF Stock Performance

The business’s 50 day moving average is $147.14 and its 200-day moving average is $145.82. The firm has a market capitalization of $548.45 million, a price-to-earnings ratio of 22.43 and a beta of 1.07.

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

Hedge funds and other institutional investors have recently made changes to their positions in the business. Simplex Trading LLC lifted its position in shares of iShares U.S. Basic Materials ETF by 442.0% during the 2nd quarter. Simplex Trading LLC now owns 271 shares of the company’s stock worth $37,000 after purchasing an additional 221 shares during the last quarter. Farther Finance Advisors LLC increased its position 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 worth $39,000 after buying an additional 276 shares during the period. United Financial Planning Group LLC bought a new position in iShares U.S. Basic Materials ETF in the 3rd quarter worth approximately $41,000. Parkside Financial Bank & Trust acquired a new position in shares of iShares U.S. Basic Materials ETF during the third quarter worth approximately $52,000. Finally, CX Institutional bought a new stake in shares of iShares U.S. Basic Materials ETF in the second quarter valued at approximately $67,000.

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.