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

iShares U.S. Basic Materials ETF (NYSEARCA:IYM) shares saw strong trading volume on Tuesday . 165,618 shares traded hands during 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 Stock Performance

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in IYM. The Manufacturers Life Insurance Company lifted its holdings in iShares U.S. Basic Materials ETF by 64.2% in the first quarter. The Manufacturers Life Insurance Company now owns 767,520 shares of the company’s stock valued at $135,022,000 after buying an additional 300,080 shares during the period. The Manufacturers Life Insurance Company bought a new position in iShares U.S. Basic Materials ETF in the fourth quarter valued at approximately $71,967,000. Bank of America Corp DE boosted its holdings in shares of iShares U.S. Basic Materials ETF by 176.5% in the first quarter. Bank of America Corp DE now owns 374,722 shares of the company’s stock valued at $65,921,000 after buying an additional 239,188 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of iShares U.S. Basic Materials ETF by 129.7% in the fourth 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 period. Finally, LPL Financial LLC increased its position in shares of iShares U.S. Basic Materials ETF by 1.0% during the fourth quarter. LPL Financial LLC now owns 101,607 shares of the company’s stock worth $15,643,000 after acquiring an additional 964 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.