iShares U.S. Basic Materials ETF (NYSEARCA:IYM) Share Price Break Above 200 Day Moving Average – Should You Sell?

Shares of iShares U.S. Basic Materials ETF (NYSEARCA:IYM) crossed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $181.19 and traded as high as $181.61. iShares U.S. Basic Materials ETF shares last traded at $181.47, with a volume of 353,197 shares.

iShares U.S. Basic Materials ETF Trading Down 0.1%

The firm has a market cap of $1.31 billion, a price-to-earnings ratio of 22.43 and a beta of 0.98. The firm’s 50-day moving average is $185.06 and its 200-day moving average is $181.29.

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

Several large investors have recently added to or reduced their stakes in IYM. Compass Financial Management LLC bought a new stake in iShares U.S. Basic Materials ETF during the 2nd quarter worth approximately $29,000. Farmers & Merchants Investments Inc. purchased a new stake in iShares U.S. Basic Materials ETF in the 3rd quarter valued at $33,000. Turtle Creek Wealth Advisors LLC bought a new position in iShares U.S. Basic Materials ETF during the 1st quarter valued at $36,000. Laurel Wealth Advisors LLC bought a new position in iShares U.S. Basic Materials ETF during the 3rd quarter valued at $37,000. Finally, Ascentis Independent Advisors purchased a new stake in shares of iShares U.S. Basic Materials ETF in the first quarter valued at about $40,000.

iShares U.S. Basic Materials ETF Company 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.