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

iShares U.S. Basic Materials ETF (NYSEARCA:IYM) saw strong trading volume on Monday . 511,548 shares traded hands during mid-day trading, an increase of 132% from the previous session’s volume of 220,874 shares.The stock last traded at $176.51 and had previously closed at $175.70.

iShares U.S. Basic Materials ETF Stock Performance

The stock has a 50-day moving average price of $181.02 and a two-hundred day moving average price of $179.69. The stock has a market capitalization of $1.18 billion, a PE ratio of 22.43 and a beta of 0.96.

Institutional Trading of iShares U.S. Basic Materials ETF

A number of hedge funds and other institutional investors have recently modified their holdings of IYM. Legacy Wealth Managment LLC ID purchased a new position in shares of iShares U.S. Basic Materials ETF during the 4th quarter valued at $36,000. Turtle Creek Wealth Advisors LLC purchased a new stake in iShares U.S. Basic Materials ETF in the 1st quarter worth $36,000. Pin Oak Investment Advisors Inc. bought a new stake in iShares U.S. Basic Materials ETF during the fourth quarter valued at about $38,000. Strive Financial Group LLC purchased a new position in shares of iShares U.S. Basic Materials ETF in the fourth quarter valued at about $39,000. Finally, Ascentis Independent Advisors bought a new position in shares of iShares U.S. Basic Materials ETF in the first quarter worth about $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.