iShares U.S. Basic Materials ETF (NYSEARCA:IYM) Sees Large Volume Increase – Here’s Why

iShares U.S. Basic Materials ETF (NYSEARCA:IYM) saw an uptick in trading volume on Wednesday . 734,402 shares changed hands during mid-day trading, an increase of 362% from the previous session’s volume of 159,117 shares.The stock last traded at $172.02 and had previously closed at $174.56.

iShares U.S. Basic Materials ETF Stock Down 0.6%

The company has a market cap of $1.05 billion, a price-to-earnings ratio of 22.43 and a beta of 1.07. The business has a fifty day simple moving average of $177.23 and a 200 day simple moving average of $158.79.

Institutional Trading of iShares U.S. Basic Materials ETF

Several hedge funds and other institutional investors have recently made changes to their positions in IYM. Rockefeller Capital Management L.P. grew its position in iShares U.S. Basic Materials ETF by 7.8% during the fourth quarter. Rockefeller Capital Management L.P. now owns 11,606 shares of the company’s stock worth $1,787,000 after buying an additional 835 shares during the period. Corient Private Wealth LLC acquired a new stake in shares of iShares U.S. Basic Materials ETF during the 4th quarter valued at approximately $1,354,000. Astoria Portfolio Advisors LLC. acquired a new stake in shares of iShares U.S. Basic Materials ETF during the 4th quarter valued at approximately $715,000. Strive Financial Group LLC purchased a new stake in shares of iShares U.S. Basic Materials ETF during the 4th quarter worth approximately $39,000. Finally, Financial Planning Fort Collins LLC purchased a new stake in shares of iShares U.S. Basic Materials ETF during the 4th quarter worth approximately $2,902,000.

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.