iShares U.S. Basic Materials ETF (NYSEARCA:IYM – Get Free Report) saw a significant increase in short interest during the month of June. As of June 15th, there was short interest totaling 435,177 shares, an increase of 3,470.8% from the May 31st total of 12,187 shares. Based on an average daily trading volume, of 318,115 shares, the days-to-cover ratio is presently 1.4 days. Approximately 5.0% of the shares of the company are sold short.
iShares U.S. Basic Materials ETF Stock Performance
Shares of IYM traded up $2.53 during mid-day trading on Thursday, hitting $181.79. The company’s stock had a trading volume of 49,168 shares, compared to its average volume of 228,042. The stock’s 50-day moving average is $183.73 and its two-hundred day moving average is $175.63. The firm has a market capitalization of $1.58 billion, a PE ratio of 22.43 and a beta of 0.95. iShares U.S. Basic Materials ETF has a one year low of $138.03 and a one year high of $191.37.
Institutional Trading of iShares U.S. Basic Materials ETF
A number of hedge funds have recently bought and sold shares of the stock. Turtle Creek Wealth Advisors LLC acquired a new stake in iShares U.S. Basic Materials ETF in the 1st quarter worth $36,000. Ascentis Independent Advisors acquired a new position in shares of iShares U.S. Basic Materials ETF during the first quarter valued at about $40,000. Legacy Wealth Managment LLC ID acquired a new position in shares of iShares U.S. Basic Materials ETF during the fourth quarter valued at about $36,000. Angeles Wealth Management LLC bought a new stake in shares of iShares U.S. Basic Materials ETF in the first quarter valued at about $41,000. Finally, Pin Oak Investment Advisors Inc. bought a new stake in shares of iShares U.S. Basic Materials ETF in the fourth quarter valued at about $38,000.
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.
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