Laurel Wealth Advisors LLC boosted its position in shares of iShares U.S. Basic Materials ETF (NYSEARCA:IYM – Free Report) by 13,901.4% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 19,602 shares of the company’s stock after buying an additional 19,462 shares during the quarter. Laurel Wealth Advisors LLC’s holdings in iShares U.S. Basic Materials ETF were worth $2,744,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in IYM. Smithfield Trust Co bought a new stake in shares of iShares U.S. Basic Materials ETF in the 1st quarter worth about $27,000. Simplex Trading LLC raised its position in iShares U.S. Basic Materials ETF by 442.0% in 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 period. Farther Finance Advisors LLC lifted its stake in iShares U.S. Basic Materials ETF by 4,600.0% in 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 last quarter. CX Institutional bought a new stake in iShares U.S. Basic Materials ETF in the second quarter worth about $67,000. Finally, AlphaCore Capital LLC purchased a new position in shares of iShares U.S. Basic Materials ETF during the second quarter valued at approximately $110,000.
iShares U.S. Basic Materials ETF Stock Performance
IYM opened at $148.76 on Friday. The stock’s 50 day moving average price is $146.29 and its 200-day moving average price is $143.66. iShares U.S. Basic Materials ETF has a one year low of $115.07 and a one year high of $152.55. The stock has a market cap of $520.66 million, a price-to-earnings ratio of 22.43 and a beta of 1.07.
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.
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