Short Interest in iShares U.S. Basic Materials ETF (NYSEARCA:IYM) Decreases By 83.6%

iShares U.S. Basic Materials ETF (NYSEARCA:IYM) saw a large drop in short interest in the month of June. As of June 30th, there was short interest totaling 71,183 shares, a drop of 83.6% from the June 15th total of 435,177 shares. Based on an average daily volume of 221,460 shares, the days-to-cover ratio is presently 0.3 days. Currently, 1.0% of the shares of the company are sold short.

iShares U.S. Basic Materials ETF Trading Down 0.8%

NYSEARCA IYM traded down $1.48 on Monday, hitting $176.76. 142,403 shares of the company traded hands, compared to its average volume of 233,348. The business’s 50 day moving average price is $182.76 and its 200-day moving average price is $177.93. iShares U.S. Basic Materials ETF has a 52-week low of $138.03 and a 52-week high of $191.37. The company has a market capitalization of $1.21 billion, a price-to-earnings ratio of 22.43 and a beta of 0.96.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. City Holding Co. bought a new position in shares of iShares U.S. Basic Materials ETF during the 2nd quarter valued at approximately $65,000. Balefire LLC purchased a new stake in iShares U.S. Basic Materials ETF in the 2nd quarter worth approximately $860,000. CoreCap Advisors LLC increased its holdings in iShares U.S. Basic Materials ETF by 324.4% in the 2nd 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. Western Wealth Management LLC bought a new stake in iShares U.S. Basic Materials ETF during the 1st quarter worth approximately $180,000. Finally, NewEdge Advisors LLC raised its stake in iShares U.S. Basic Materials ETF by 58.4% during the 1st quarter. NewEdge Advisors LLC now owns 4,175 shares of the company’s stock worth $734,000 after acquiring an additional 1,539 shares during the period.

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.