iShares U.S. Basic Materials ETF (NYSEARCA:IYM) Short Interest Down 52.8% in May

iShares U.S. Basic Materials ETF (NYSEARCA:IYM) was the recipient of a significant decrease in short interest during the month of May. As of May 15th, there was short interest totaling 38,539 shares, a decrease of 52.8% from the April 30th total of 81,662 shares. Based on an average trading volume of 130,869 shares, the days-to-cover ratio is currently 0.3 days. Currently, 0.4% of the shares of the stock are sold short.

iShares U.S. Basic Materials ETF Stock Performance

IYM stock traded down $0.53 during trading on Monday, hitting $184.25. 151,234 shares of the company’s stock traded hands, compared to its average volume of 217,492. iShares U.S. Basic Materials ETF has a 52 week low of $135.35 and a 52 week high of $189.80. The business has a fifty day simple moving average of $180.82 and a 200 day simple moving average of $170.77. The stock has a market capitalization of $1.60 billion, a price-to-earnings ratio of 22.43 and a beta of 0.96.

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

Several institutional investors have recently bought and sold shares of the business. Western Wealth Management LLC bought a new position in iShares U.S. Basic Materials ETF during the first quarter valued at $180,000. NewEdge Advisors LLC lifted its position in iShares U.S. Basic Materials ETF by 54.8% during the first quarter. NewEdge Advisors LLC now owns 4,080 shares of the company’s stock valued at $718,000 after purchasing an additional 1,444 shares during the last quarter. Bank of America Corp DE lifted its position in iShares U.S. Basic Materials ETF by 176.5% during the first quarter. Bank of America Corp DE now owns 374,722 shares of the company’s stock valued at $65,921,000 after purchasing an additional 239,188 shares during the last quarter. Arkadios Wealth Advisors lifted its position in iShares U.S. Basic Materials ETF by 22.4% during the first quarter. Arkadios Wealth Advisors now owns 2,873 shares of the company’s stock valued at $505,000 after purchasing an additional 525 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in iShares U.S. Basic Materials ETF by 64.2% during the first quarter. The Manufacturers Life Insurance Company now owns 767,520 shares of the company’s stock valued at $135,022,000 after purchasing an additional 300,080 shares during the last quarter.

iShares U.S. Basic Materials ETF Company Profile

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.