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

iShares U.S. Basic Materials ETF (NYSEARCA:IYM) shares saw unusually-high trading volume on Thursday . Approximately 50,564 shares were traded during mid-day trading, an increase of 133% from the previous session’s volume of 21,744 shares.The stock last traded at $130.95 and had previously closed at $131.23.

iShares U.S. Basic Materials ETF Trading Up 1.0 %

The stock has a market capitalization of $603.43 million, a price-to-earnings ratio of 13.76 and a beta of 0.87. The stock’s 50 day moving average is $145.33 and its 200 day moving average is $143.91.

Institutional Trading of iShares U.S. Basic Materials ETF

Institutional investors and hedge funds have recently made changes to their positions in the stock. Wilmington Savings Fund Society FSB purchased a new position in iShares U.S. Basic Materials ETF in the 3rd quarter valued at about $26,000. Fairfield Financial Advisors LTD purchased a new stake in iShares U.S. Basic Materials ETF in the 2nd quarter worth approximately $45,000. Reston Wealth Management LLC acquired a new position in iShares U.S. Basic Materials ETF in the 3rd quarter valued at $50,000. Truvestments Capital LLC acquired a new position in iShares U.S. Basic Materials ETF in the 3rd quarter valued at $71,000. Finally, CWM LLC lifted its stake in shares of iShares U.S. Basic Materials ETF by 15.3% during the 3rd quarter. CWM LLC now owns 724 shares of the company’s stock worth $109,000 after purchasing an additional 96 shares during the period.

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.