iShares U.S. Basic Materials ETF (NYSEARCA:IYM) Share Price Break Below 200-Day Moving Average – Should You Sell?

iShares U.S. Basic Materials ETF (NYSEARCA:IYM)’s stock price crossed below its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of $181.91 and traded as low as $180.84. iShares U.S. Basic Materials ETF shares last traded at $181.00, with a volume of 163,089 shares trading hands.

iShares U.S. Basic Materials ETF Price Performance

The company has a 50 day moving average of $182.53 and a 200-day moving average of $181.91. The company has a market cap of $1.20 billion, a P/E ratio of 21.73 and a beta of 0.97.

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

A number of institutional investors and hedge funds have recently bought and sold shares of IYM. The Manufacturers Life Insurance Company raised its position in shares of iShares U.S. Basic Materials ETF by 64.2% during the 1st quarter. The Manufacturers Life Insurance Company now owns 767,520 shares of the company’s stock valued at $135,022,000 after buying an additional 300,080 shares in the last quarter. AIA Group Ltd bought a new stake in shares of iShares U.S. Basic Materials ETF during the 3rd quarter worth $109,763,000. Bank of America Corp DE lifted its holdings in shares of iShares U.S. Basic Materials ETF by 176.5% during the 1st quarter. Bank of America Corp DE now owns 374,722 shares of the company’s stock worth $65,921,000 after acquiring an additional 239,188 shares during the last quarter. Bank of Nova Scotia grew its position in iShares U.S. Basic Materials ETF by 191.8% in the first quarter. Bank of Nova Scotia now owns 74,110 shares of the company’s stock worth $13,037,000 after acquiring an additional 48,710 shares in the last quarter. Finally, CoreCap Advisors LLC grew its position in iShares U.S. Basic Materials ETF by 324.4% in the second quarter. CoreCap Advisors LLC now owns 61,497 shares of the company’s stock worth $11,041,000 after acquiring an additional 47,006 shares in the last quarter.

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.