iShares U.S. Basic Materials ETF (NYSEARCA:IYM) Short Interest Down 68.4% in May

iShares U.S. Basic Materials ETF (NYSEARCA:IYM) saw a large decrease in short interest during the month of May. As of May 29th, there was short interest totaling 12,187 shares, a decrease of 68.4% from the May 14th total of 38,539 shares. Based on an average daily volume of 282,920 shares, the short-interest ratio is presently 0.0 days. Currently, 0.1% of the company’s stock are short sold.

iShares U.S. Basic Materials ETF Stock Performance

Shares of NYSEARCA:IYM traded up $3.14 during trading hours on Friday, reaching $187.93. The stock had a trading volume of 1,572,087 shares, compared to its average volume of 227,566. iShares U.S. Basic Materials ETF has a 1 year low of $135.94 and a 1 year high of $189.80. The firm’s 50 day moving average is $183.24 and its 200-day moving average is $173.13. The stock has a market capitalization of $1.63 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 large investors have recently modified their holdings of IYM. Legacy Wealth Managment LLC ID purchased a new position in shares of iShares U.S. Basic Materials ETF in the 4th quarter valued at $36,000. Turtle Creek Wealth Advisors LLC purchased a new position in shares of iShares U.S. Basic Materials ETF in the 1st quarter valued at $36,000. Pin Oak Investment Advisors Inc. purchased a new position in shares of iShares U.S. Basic Materials ETF in the 4th quarter valued at $38,000. Strive Financial Group LLC purchased a new position in shares of iShares U.S. Basic Materials ETF in the 4th quarter valued at $39,000. Finally, Ascentis Independent Advisors purchased a new position in shares of iShares U.S. Basic Materials ETF in the 1st quarter valued at $40,000.

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.