Short Interest in iShares U.S. Basic Materials ETF (NYSEARCA:IYM) Drops By 22.6%

iShares U.S. Basic Materials ETF (NYSEARCA:IYM) was the recipient of a significant decline in short interest in December. As of December 15th, there was short interest totaling 22,778 shares, a decline of 22.6% from the November 30th total of 29,433 shares. Based on an average daily volume of 155,717 shares, the days-to-cover ratio is currently 0.1 days. Currently, 0.7% of the shares of the stock are sold short. Currently, 0.7% of the shares of the stock are sold short. Based on an average daily volume of 155,717 shares, the days-to-cover ratio is currently 0.1 days.

iShares U.S. Basic Materials ETF Price Performance

iShares U.S. Basic Materials ETF stock traded up $0.12 during trading on Tuesday, reaching $155.48. 24,782 shares of the company were exchanged, compared to its average volume of 37,451. iShares U.S. Basic Materials ETF has a 52-week low of $115.07 and a 52-week high of $157.90. The stock’s 50 day simple moving average is $147.97 and its two-hundred day simple moving average is $146.43. The company has a market capitalization of $544.18 million, a P/E ratio of 22.43 and a beta of 1.07.

Hedge Funds Weigh In On iShares U.S. Basic Materials ETF

Institutional investors have recently bought and sold shares of the company. 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 lifted its holdings in shares of iShares U.S. Basic Materials ETF by 4,600.0% during the second quarter. Farther Finance Advisors LLC now owns 282 shares of the company’s stock worth $39,000 after purchasing an additional 276 shares during the period. United Financial Planning Group LLC purchased a new stake in shares of iShares U.S. Basic Materials ETF in the third quarter valued at about $41,000. Parkside Financial Bank & Trust acquired a new position in iShares U.S. Basic Materials ETF during the 3rd quarter worth approximately $52,000. Finally, CX Institutional acquired a new position in iShares U.S. Basic Materials ETF during the second quarter worth $67,000.

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.