iShares U.S. Basic Materials ETF (NYSEARCA:IYM) Stock Short Interest Falls 53.4%

iShares U.S. Basic Materials ETF (NYSEARCA:IYM) was the recipient of a significant decrease in short interest in October. As of October 30th, there was short interest totaling 34,832 shares, a decrease of 53.4% from the October 15th total of 74,757 shares. Based on an average daily trading volume, of 152,287 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.5% of the shares of the stock are sold short.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Simplex Trading LLC bought a new stake in iShares U.S. Basic Materials ETF during the third quarter valued at $25,000. Compass Financial Management LLC purchased a new stake in shares of iShares U.S. Basic Materials ETF in the 2nd quarter valued at about $29,000. Mycio Wealth Partners LLC purchased a new stake in shares of iShares U.S. Basic Materials ETF in the 3rd quarter valued at about $29,000. Farmers & Merchants Investments Inc. purchased a new stake in shares of iShares U.S. Basic Materials ETF in the 3rd quarter valued at about $33,000. Finally, Laurel Wealth Advisors LLC bought a new stake in shares of iShares U.S. Basic Materials ETF during the 3rd quarter valued at about $37,000.

iShares U.S. Basic Materials ETF Stock Down 0.4%

NYSEARCA:IYM traded down $0.65 during mid-day trading on Friday, hitting $180.35. 821,512 shares of the stock traded hands, compared to its average volume of 223,276. The business’s 50-day moving average price is $182.29 and its 200 day moving average price is $181.93. The company has a market cap of $1.05 billion, a PE ratio of 21.73 and a beta of 0.97. iShares U.S. Basic Materials ETF has a 12-month low of $140.05 and a 12-month high of $197.36.

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.