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

iShares U.S. Basic Materials ETF (NYSEARCA:IYM) saw unusually-strong trading volume on Tuesday . 165,618 shares changed hands during mid-day trading, a decline of 22% from the previous session’s volume of 211,850 shares.The stock last traded at $189.45 and had previously closed at $192.03.

iShares U.S. Basic Materials ETF Price Performance

The firm has a market capitalization of $1.26 billion, a price-to-earnings ratio of 22.43 and a beta of 0.96. The stock has a 50 day moving average price of $182.95 and a two-hundred day moving average price of $182.03.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Jane Street Group LLC lifted its holdings in shares of iShares U.S. Basic Materials ETF by 266.1% during the first quarter. Jane Street Group LLC now owns 5,707 shares of the company’s stock worth $769,000 after purchasing an additional 4,148 shares during the period. Baird Financial Group Inc. acquired a new stake in shares of iShares U.S. Basic Materials ETF in the second quarter valued at approximately $203,000. Daiwa Securities Group Inc. grew its holdings in iShares U.S. Basic Materials ETF by 7.0% during the 2nd quarter. Daiwa Securities Group Inc. now owns 5,350 shares of the company’s stock valued at $749,000 after buying an additional 350 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new stake in shares of iShares U.S. Basic Materials ETF during the second quarter valued at $44,278,000. Finally, Vivaldi Capital Management LP purchased a new stake in iShares U.S. Basic Materials ETF in the 2nd quarter worth approximately $295,000.

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.