iShares U.S. Basic Materials ETF (NYSEARCA:IYM – Get Free Report) shares saw strong trading volume on Wednesday . 984,311 shares were traded during mid-day trading, an increase of 345% from the previous session’s volume of 221,238 shares.The stock last traded at $178.95 and had previously closed at $180.57.
iShares U.S. Basic Materials ETF Price Performance
The company has a market capitalization of $1.55 billion, a price-to-earnings ratio of 22.43 and a beta of 0.95. The stock has a fifty day simple moving average of $183.92 and a 200-day simple moving average of $175.17.
Hedge Funds Weigh In On iShares U.S. Basic Materials ETF
Hedge funds and other institutional investors have recently made changes to their positions in the company. The Manufacturers Life Insurance Company purchased a new stake in shares of iShares U.S. Basic Materials ETF in the fourth quarter valued at about $71,967,000. Bank of America Corp DE increased its position in iShares U.S. Basic Materials ETF by 176.5% during the first quarter. Bank of America Corp DE now owns 374,722 shares of the company’s stock worth $65,921,000 after purchasing an additional 239,188 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in iShares U.S. Basic Materials ETF by 129.7% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 155,343 shares of the company’s stock worth $23,917,000 after purchasing an additional 87,723 shares during the period. Principal Financial Group Inc. purchased a new position in iShares U.S. Basic Materials ETF during the first quarter worth about $10,112,000. Finally, WealthCare Asset Management LLC acquired a new position in iShares U.S. Basic Materials ETF in the 1st quarter valued at about $8,780,000.
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.
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