iShares U.S. Basic Materials ETF (NYSEARCA:IYM) Sees Strong Trading Volume – Still a Buy?

Shares of iShares U.S. Basic Materials ETF (NYSEARCA:IYM) saw strong trading volume on Friday . 566,152 shares were traded during mid-day trading, an increase of 163% from the previous session’s volume of 215,305 shares.The stock last traded at $187.73 and had previously closed at $184.79.

iShares U.S. Basic Materials ETF Stock Up 1.9%

The company has a 50 day moving average price of $183.05 and a 200-day moving average price of $173.03. The company has a market cap of $1.64 billion, a price-to-earnings ratio of 22.43 and a beta of 0.95.

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

A number of institutional investors have recently made changes to their positions in IYM. Turtle Creek Wealth Advisors LLC bought a new position in iShares U.S. Basic Materials ETF during the 1st quarter worth approximately $36,000. Ascentis Independent Advisors bought a new position in iShares U.S. Basic Materials ETF during the first quarter worth $40,000. Legacy Wealth Managment LLC ID bought a new position in iShares U.S. Basic Materials ETF during the fourth quarter worth $36,000. Angeles Wealth Management LLC bought a new position in iShares U.S. Basic Materials ETF during the first quarter worth $41,000. Finally, Pin Oak Investment Advisors Inc. bought a new position in iShares U.S. Basic Materials ETF during the fourth quarter worth $38,000.

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.