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

iShares U.S. Basic Materials ETF (NYSEARCA:IYM) shares saw unusually-strong trading volume on Tuesday . Approximately 165,618 shares were traded 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 Up 1.4%

The stock has a market capitalization of $1.28 billion, a P/E ratio of 22.43 and a beta of 0.96. The company has a fifty day simple moving average of $183.38 and a two-hundred day simple moving average of $182.14.

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

Institutional investors have recently modified their holdings of the business. Jane Street Group LLC increased its stake in iShares U.S. Basic Materials ETF by 266.1% during the 1st quarter. Jane Street Group LLC now owns 5,707 shares of the company’s stock worth $769,000 after purchasing an additional 4,148 shares in the last quarter. Baird Financial Group Inc. bought a new position in iShares U.S. Basic Materials ETF in the second quarter valued at approximately $203,000. Daiwa Securities Group Inc. boosted its holdings in shares of iShares U.S. Basic Materials ETF by 7.0% in the second quarter. Daiwa Securities Group Inc. now owns 5,350 shares of the company’s stock valued at $749,000 after buying an additional 350 shares during the period. The Manufacturers Life Insurance Company acquired a new position in shares of iShares U.S. Basic Materials ETF in the second quarter valued at approximately $44,278,000. Finally, Vivaldi Capital Management LP bought a new stake in shares of iShares U.S. Basic Materials ETF during the second quarter worth $295,000.

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.