Short Interest in iShares U.S. Basic Materials ETF (NYSEARCA:IYM) Rises By 114.7%

iShares U.S. Basic Materials ETF (NYSEARCA:IYM) was the target of a significant increase in short interest in the month of December. As of December 31st, there was short interest totaling 48,897 shares, an increase of 114.7% from the December 15th total of 22,778 shares. Based on an average daily trading volume, of 73,499 shares, the short-interest ratio is currently 0.7 days. Currently, 0.9% of the company’s shares are short sold. Currently, 0.9% of the company’s shares are short sold. Based on an average daily trading volume, of 73,499 shares, the short-interest ratio is currently 0.7 days.

iShares U.S. Basic Materials ETF Stock Up 0.9%

NYSEARCA:IYM traded up $1.44 on Wednesday, reaching $169.42. 123,674 shares of the company’s stock were exchanged, compared to its average volume of 271,353. The firm has a market capitalization of $864.04 million, a price-to-earnings ratio of 22.43 and a beta of 1.07. iShares U.S. Basic Materials ETF has a 52-week low of $115.07 and a 52-week high of $169.82. The business has a fifty day moving average of $151.19 and a 200-day moving average of $148.05.

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

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Jane Street Group LLC lifted its stake in iShares U.S. Basic Materials ETF by 266.1% in the first quarter. Jane Street Group LLC now owns 5,707 shares of the company’s stock valued at $769,000 after buying an additional 4,148 shares during the last quarter. Sovran Advisors LLC lifted its position in iShares U.S. Basic Materials ETF by 37.1% during the 2nd quarter. Sovran Advisors LLC now owns 3,830 shares of the company’s stock worth $550,000 after acquiring an additional 1,036 shares during the period. Focus Financial Network Inc. grew its stake in shares of iShares U.S. Basic Materials ETF by 7.1% in the 2nd quarter. Focus Financial Network Inc. now owns 1,850 shares of the company’s stock valued at $259,000 after purchasing an additional 123 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of iShares U.S. Basic Materials ETF by 5.4% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 3,818 shares of the company’s stock valued at $552,000 after purchasing an additional 196 shares during the period. Finally, CX Institutional acquired a new position in shares of iShares U.S. Basic Materials ETF in the second quarter valued at approximately $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.