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

iShares U.S. Basic Materials ETF (NYSEARCA:IYM) shares saw unusually-strong trading volume on Wednesday . 432,055 shares changed hands during trading, an increase of 89% from the previous session’s volume of 228,579 shares.The stock last traded at $180.95 and had previously closed at $179.53.

iShares U.S. Basic Materials ETF Stock Performance

The firm has a market cap of $1.57 billion, a P/E ratio of 22.43 and a beta of 0.95. The firm has a fifty day moving average of $183.46 and a 200-day moving average of $176.31.

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

Several hedge funds and other institutional investors have recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC grew its position in shares of iShares U.S. Basic Materials ETF by 1.8% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 4,000 shares of the company’s stock worth $652,000 after acquiring an additional 69 shares during the last quarter. Comerica Bank lifted its position in iShares U.S. Basic Materials ETF by 3.3% in the 3rd quarter. Comerica Bank now owns 2,566 shares of the company’s stock valued at $380,000 after purchasing an additional 83 shares during the last quarter. Magnus Financial Group LLC grew its position in iShares U.S. Basic Materials ETF by 4.6% in the 4th quarter. Magnus Financial Group LLC now owns 2,035 shares of the company’s stock worth $313,000 after purchasing an additional 90 shares during the last quarter. CreativeOne Wealth LLC increased its stake in shares of iShares U.S. Basic Materials ETF by 6.1% in the third quarter. CreativeOne Wealth LLC now owns 1,593 shares of the company’s stock valued at $236,000 after purchasing an additional 91 shares during the period. Finally, Sanctuary Advisors LLC increased its stake in shares of iShares U.S. Basic Materials ETF by 0.8% in the fourth quarter. Sanctuary Advisors LLC now owns 12,880 shares of the company’s stock valued at $1,983,000 after purchasing an additional 103 shares during the period.

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.