Sumitomo Mitsui Trust Group Inc. Makes New Investment in iShares U.S. Basic Materials ETF $IYM

Sumitomo Mitsui Trust Group Inc. acquired a new stake in iShares U.S. Basic Materials ETF (NYSEARCA:IYM) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 29,784 shares of the company’s stock, valued at approximately $5,305,000. Sumitomo Mitsui Trust Group Inc. owned 0.41% of iShares U.S. Basic Materials ETF as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of IYM. The Manufacturers Life Insurance Company boosted its stake 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 worth $135,022,000 after acquiring an additional 300,080 shares in the last quarter. 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 period. Principal Financial Group Inc. acquired a new stake in shares of iShares U.S. Basic Materials ETF during the 1st quarter worth $10,112,000. WealthCare Asset Management LLC purchased a new position in shares of iShares U.S. Basic Materials ETF in the 1st quarter worth about $8,780,000. Finally, Bank of Nova Scotia grew its stake in iShares U.S. Basic Materials ETF by 191.8% during the first quarter. Bank of Nova Scotia now owns 74,110 shares of the company’s stock worth $13,037,000 after buying an additional 48,710 shares during the period.

iShares U.S. Basic Materials ETF Trading Up 0.4%

NYSEARCA:IYM traded up $0.66 during mid-day trading on Friday, hitting $179.90. The company had a trading volume of 289,973 shares, compared to its average volume of 222,498. The firm has a market capitalization of $1.22 billion, a price-to-earnings ratio of 21.73 and a beta of 0.97. iShares U.S. Basic Materials ETF has a 1 year low of $139.82 and a 1 year high of $197.36. The business has a fifty day simple moving average of $183.20 and a 200-day simple moving average of $181.73.

iShares U.S. Basic Materials ETF Profile

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.