iShares U.S. Basic Materials ETF (NYSEARCA:IYM) Sees Large Decline in Short Interest

iShares U.S. Basic Materials ETF (NYSEARCA:IYM) was the recipient of a large decrease in short interest in the month of February. As of February 13th, there was short interest totaling 42,886 shares, a decrease of 43.0% from the January 29th total of 75,267 shares. Based on an average daily trading volume, of 173,193 shares, the short-interest ratio is currently 0.2 days. Currently, 0.7% of the company’s stock are short sold. Currently, 0.7% of the company’s stock are short sold. Based on an average daily trading volume, of 173,193 shares, the short-interest ratio is currently 0.2 days.

iShares U.S. Basic Materials ETF Stock Up 0.7%

IYM stock traded up $1.40 during midday trading on Friday, hitting $188.56. The company’s stock had a trading volume of 64,053 shares, compared to its average volume of 168,645. The firm has a 50-day simple moving average of $171.70 and a 200-day simple moving average of $155.99. The firm has a market capitalization of $1.19 billion, a P/E ratio of 22.43 and a beta of 1.07. iShares U.S. Basic Materials ETF has a 52-week low of $115.07 and a 52-week high of $188.81.

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

Several large investors have recently bought and sold shares of IYM. Legacy Wealth Managment LLC ID acquired a new stake in iShares U.S. Basic Materials ETF in the 4th quarter valued at about $36,000. Simplex Trading LLC increased its stake in shares of iShares U.S. Basic Materials ETF by 442.0% during the second quarter. Simplex Trading LLC now owns 271 shares of the company’s stock worth $37,000 after buying an additional 221 shares during the period. Pin Oak Investment Advisors Inc. acquired a new stake in iShares U.S. Basic Materials ETF in the fourth quarter valued at approximately $38,000. Strive Financial Group LLC purchased a new position in iShares U.S. Basic Materials ETF in the fourth quarter worth approximately $39,000. Finally, United Financial Planning Group LLC purchased a new position in iShares U.S. Basic Materials ETF in the third quarter worth approximately $41,000.

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.