iShares U.S. Basic Materials ETF (NYSEARCA:IYM) Sees Unusually-High Trading Volume – What’s Next?

iShares U.S. Basic Materials ETF (NYSEARCA:IYM) shares saw unusually-high trading volume on Monday . Approximately 247,125 shares were traded during trading, an increase of 16% from the previous session’s volume of 212,179 shares.The stock last traded at $180.21 and had previously closed at $180.22.

iShares U.S. Basic Materials ETF Stock Performance

The company has a market cap of $1.56 billion, a price-to-earnings ratio of 22.43 and a beta of 0.96. The firm’s 50-day moving average price is $179.29 and its 200 day moving average price is $167.74.

Hedge Funds Weigh In On iShares U.S. Basic Materials ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC boosted its stake in iShares U.S. Basic Materials ETF by 1.8% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 4,000 shares of the company’s stock worth $652,000 after acquiring an additional 69 shares during the last quarter. Comerica Bank grew its stake in iShares U.S. Basic Materials ETF by 3.3% in the third quarter. Comerica Bank now owns 2,566 shares of the company’s stock valued at $380,000 after acquiring an additional 83 shares during the period. Magnus Financial Group LLC raised its position in shares of iShares U.S. Basic Materials ETF by 4.6% during the fourth quarter. Magnus Financial Group LLC now owns 2,035 shares of the company’s stock worth $313,000 after purchasing an additional 90 shares during the period. CreativeOne Wealth LLC lifted its holdings in shares of iShares U.S. Basic Materials ETF by 6.1% during the 3rd quarter. CreativeOne Wealth LLC now owns 1,593 shares of the company’s stock valued at $236,000 after purchasing an additional 91 shares in the last quarter. Finally, Sanctuary Advisors LLC increased its stake in iShares U.S. Basic Materials ETF by 0.8% during the 4th quarter. Sanctuary Advisors LLC now owns 12,880 shares of the company’s stock worth $1,983,000 after purchasing an additional 103 shares in the last quarter.

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.