iShares U.S. Basic Materials ETF (NYSEARCA:IYM) Reaches New 12-Month High – What’s Next?

iShares U.S. Basic Materials ETF (NYSEARCA:IYM) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $187.61 and last traded at $187.09, with a volume of 513263 shares. The stock had previously closed at $185.25.

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

The stock has a market capitalization of $1.18 billion, a price-to-earnings ratio of 22.43 and a beta of 1.07. The company has a fifty day moving average of $169.61 and a two-hundred day moving average of $155.08.

Institutional Investors Weigh In On iShares U.S. Basic Materials ETF

A number of hedge funds have recently bought and sold shares of the company. The Manufacturers Life Insurance Company acquired a new stake in shares of iShares U.S. Basic Materials ETF in the fourth quarter valued at about $71,967,000. PGIM Custom Harvest LLC boosted its stake in iShares U.S. Basic Materials ETF by 1.4% during the 2nd quarter. PGIM Custom Harvest LLC now owns 306,221 shares of the company’s stock valued at $42,874,000 after purchasing an additional 4,290 shares during the period. Northwestern Mutual Wealth Management Co. grew its holdings in iShares U.S. Basic Materials ETF by 129.7% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 155,343 shares of the company’s stock valued at $23,917,000 after buying an additional 87,723 shares during the last quarter. Bank of America Corp DE grew its holdings in iShares U.S. Basic Materials ETF by 5.2% in the 2nd quarter. Bank of America Corp DE now owns 131,814 shares of the company’s stock valued at $18,455,000 after buying an additional 6,462 shares during the last quarter. Finally, LPL Financial LLC increased its position in iShares U.S. Basic Materials ETF by 1.0% in the 4th quarter. LPL Financial LLC now owns 101,607 shares of the company’s stock worth $15,643,000 after buying an additional 964 shares during the period.

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.