iShares U.S. Basic Materials ETF (NYSEARCA:IYM) Short Interest Up 119.0% in January

iShares U.S. Basic Materials ETF (NYSEARCA:IYM) was the target of a significant growth in short interest during the month of January. As of January 15th, there was short interest totaling 107,066 shares, a growth of 119.0% from the December 31st total of 48,897 shares. Approximately 1.7% of the shares of the stock are sold short. Based on an average trading volume of 269,257 shares, the days-to-cover ratio is presently 0.4 days. Based on an average trading volume of 269,257 shares, the days-to-cover ratio is presently 0.4 days. Approximately 1.7% of the shares of the stock are sold short.

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

Institutional investors have recently modified their holdings of the business. Simplex Trading LLC boosted its stake in iShares U.S. Basic Materials ETF by 442.0% in the second quarter. Simplex Trading LLC now owns 271 shares of the company’s stock valued at $37,000 after buying an additional 221 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of 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 acquiring an additional 276 shares during the last quarter. United Financial Planning Group LLC acquired a new stake in shares of iShares U.S. Basic Materials ETF in the 3rd quarter valued at approximately $41,000. Parkside Financial Bank & Trust acquired a new stake in shares of iShares U.S. Basic Materials ETF in the 3rd quarter valued at approximately $52,000. Finally, Blair William & Co. IL grew its holdings in shares of iShares U.S. Basic Materials ETF by 794.9% during the 3rd quarter. Blair William & Co. IL now owns 528 shares of the company’s stock valued at $78,000 after purchasing an additional 469 shares during the last quarter.

iShares U.S. Basic Materials ETF Price Performance

IYM traded down $5.75 during trading on Friday, hitting $170.29. 104,363 shares of the stock traded hands, compared to its average volume of 187,663. The business has a 50 day moving average price of $158.82 and a 200 day moving average price of $150.64. iShares U.S. Basic Materials ETF has a twelve month low of $115.07 and a twelve month high of $179.47. The company has a market cap of $1.07 billion, 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.