iShares U.S. Basic Materials ETF (NYSEARCA:IYM) Short Interest Up 3,470.8% in June

iShares U.S. Basic Materials ETF (NYSEARCA:IYM) was the recipient of a significant growth in short interest in the month of June. As of June 15th, there was short interest totaling 435,177 shares, a growth of 3,470.8% from the May 31st total of 12,187 shares. Currently, 5.0% of the shares of the company are sold short. Based on an average daily volume of 318,115 shares, the days-to-cover ratio is currently 1.4 days.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of IYM. The Manufacturers Life Insurance Company boosted its holdings in iShares U.S. Basic Materials ETF by 64.2% during the first quarter. The Manufacturers Life Insurance Company now owns 767,520 shares of the company’s stock valued at $135,022,000 after acquiring an additional 300,080 shares during the period. Bank of America Corp DE increased its stake 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 worth $65,921,000 after purchasing an additional 239,188 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake 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 worth $23,917,000 after purchasing an additional 87,723 shares during the period. LPL Financial LLC lifted its position in shares of iShares U.S. Basic Materials ETF by 1.0% during the 4th quarter. LPL Financial LLC now owns 101,607 shares of the company’s stock worth $15,643,000 after purchasing an additional 964 shares during the last quarter. Finally, UBS Group AG lifted its position in shares of iShares U.S. Basic Materials ETF by 2.0% during the 4th quarter. UBS Group AG now owns 79,669 shares of the company’s stock worth $12,266,000 after purchasing an additional 1,592 shares during the last quarter.

iShares U.S. Basic Materials ETF Stock Up 1.4%

IYM stock traded up $2.53 during midday trading on Thursday, hitting $181.79. 49,168 shares of the company traded hands, compared to its average volume of 228,042. iShares U.S. Basic Materials ETF has a twelve month low of $138.03 and a twelve month high of $191.37. The stock has a market capitalization of $1.58 billion, a price-to-earnings ratio of 22.43 and a beta of 0.95. The business has a 50 day simple moving average of $183.73 and a 200-day simple moving average of $175.63.

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.