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

Shares of iShares U.S. Basic Materials ETF (NYSEARCA:IYM) saw unusually-high trading volume on Wednesday . Approximately 66,837 shares were traded during trading, an increase of 213% from the previous session’s volume of 21,344 shares.The stock last traded at $136.46 and had previously closed at $136.41.

iShares U.S. Basic Materials ETF Price Performance

The company has a 50-day moving average of $136.84 and a two-hundred day moving average of $141.22. The company has a market capitalization of $520.30 million, a PE ratio of 24.29 and a beta of 1.15.

Institutional Trading of iShares U.S. Basic Materials ETF

Several hedge funds have recently modified their holdings of IYM. Wealth Enhancement Advisory Services LLC increased its stake in iShares U.S. Basic Materials ETF by 11.5% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 1,635 shares of the company’s stock worth $212,000 after acquiring an additional 169 shares during the last quarter. HighTower Advisors LLC increased its position in shares of iShares U.S. Basic Materials ETF by 3.3% during the 3rd quarter. HighTower Advisors LLC now owns 3,522 shares of the company’s stock valued at $528,000 after purchasing an additional 111 shares during the last quarter. Stifel Financial Corp raised its holdings in iShares U.S. Basic Materials ETF by 7.3% during the 3rd quarter. Stifel Financial Corp now owns 3,792 shares of the company’s stock valued at $570,000 after buying an additional 257 shares during the period. IFP Advisors Inc lifted its position in iShares U.S. Basic Materials ETF by 146.5% in the fourth quarter. IFP Advisors Inc now owns 673 shares of the company’s stock worth $87,000 after buying an additional 400 shares during the last quarter. Finally, Jones Financial Companies Lllp increased its position in iShares U.S. Basic Materials ETF by 127.8% during the fourth quarter. Jones Financial Companies Lllp now owns 2,098 shares of the company’s stock valued at $273,000 after acquiring an additional 1,177 shares during the last quarter.

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.