iShares U.S. Basic Materials ETF (NYSEARCA:IYM) Sees Strong Trading Volume – Still a Buy?

iShares U.S. Basic Materials ETF (NYSEARCA:IYM) shares saw strong trading volume on Friday . 566,152 shares were traded during mid-day trading, an increase of 163% from the previous session’s volume of 215,305 shares.The stock last traded at $187.73 and had previously closed at $184.79.

iShares U.S. Basic Materials ETF Stock Up 1.9%

The stock has a 50 day simple moving average of $183.05 and a 200 day simple moving average of $173.03. The stock has a market cap of $1.64 billion, a price-to-earnings ratio of 22.43 and a beta of 0.95.

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

Large investors have recently added to or reduced their stakes in the business. Turtle Creek Wealth Advisors LLC bought a new position in iShares U.S. Basic Materials ETF in the 1st quarter valued at about $36,000. Ascentis Independent Advisors bought a new position in iShares U.S. Basic Materials ETF in the 1st quarter valued at about $40,000. Legacy Wealth Managment LLC ID bought a new position in iShares U.S. Basic Materials ETF in the 4th quarter valued at about $36,000. Angeles Wealth Management LLC bought a new position in iShares U.S. Basic Materials ETF in the 1st quarter valued at about $41,000. Finally, Pin Oak Investment Advisors Inc. bought a new position in iShares U.S. Basic Materials ETF in the 4th quarter valued at about $38,000.

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.