iShares U.S. Basic Materials ETF (NYSEARCA:IYM) Reaches New 12-Month High – Still a Buy?

iShares U.S. Basic Materials ETF (NYSEARCA:IYM) hit a new 52-week high on Tuesday . The company traded as high as $191.84 and last traded at $191.84, with a volume of 9372 shares traded. The stock had previously closed at $188.46.

iShares U.S. Basic Materials ETF Stock Performance

The firm has a market capitalization of $1.27 billion, a P/E ratio of 22.43 and a beta of 0.96. The firm has a 50-day moving average of $181.07 and a 200-day moving average of $180.34.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of IYM. Turtle Creek Wealth Advisors LLC bought a new position in shares of iShares U.S. Basic Materials ETF during the first quarter valued at $36,000. Ascentis Independent Advisors bought a new stake in iShares U.S. Basic Materials ETF in the 1st quarter worth about $40,000. Legacy Wealth Managment LLC ID purchased a new position in iShares U.S. Basic Materials ETF in the 4th quarter worth about $36,000. Angeles Wealth Management LLC purchased a new position in iShares U.S. Basic Materials ETF in the 1st quarter worth about $41,000. Finally, Pin Oak Investment Advisors Inc. purchased a new position in iShares U.S. Basic Materials ETF in the 4th quarter worth about $38,000.

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.