iShares U.S. Basic Materials ETF (NYSEARCA:IYM) Sees Large Volume Increase – Here’s Why

Shares of iShares U.S. Basic Materials ETF (NYSEARCA:IYM) saw strong trading volume on Monday . 247,125 shares were traded during mid-day trading, an increase of 16% from the previous session’s volume of 212,179 shares.The stock last traded at $180.21 and had previously closed at $180.22.

iShares U.S. Basic Materials ETF Stock Performance

The firm’s 50-day moving average price is $179.29 and its two-hundred day moving average price is $167.74. The firm has a market capitalization of $1.56 billion, a price-to-earnings ratio of 22.43 and a beta of 0.96.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Legacy Wealth Managment LLC ID acquired a new stake in iShares U.S. Basic Materials ETF in the 4th quarter valued at about $36,000. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of iShares U.S. Basic Materials ETF in the first quarter valued at approximately $36,000. Pin Oak Investment Advisors Inc. bought a new position in iShares U.S. Basic Materials ETF in the 4th quarter worth approximately $38,000. Strive Financial Group LLC bought a new position in iShares U.S. Basic Materials ETF in the 4th quarter worth approximately $39,000. Finally, Ascentis Independent Advisors acquired a new position in iShares U.S. Basic Materials ETF during the 1st quarter worth $40,000.

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.