iShares U.S. Basic Materials ETF (NYSEARCA:IYM) Short Interest Down 28.5% in September

iShares U.S. Basic Materials ETF (NYSEARCA:IYM) saw a large decline in short interest during the month of September. As of September 30th, there was short interest totaling 177,700 shares, a decline of 28.5% from the September 15th total of 248,700 shares. Based on an average daily trading volume, of 18,800 shares, the days-to-cover ratio is currently 9.5 days. Based on an average daily trading volume, of 18,800 shares, the days-to-cover ratio is currently 9.5 days.

iShares U.S. Basic Materials ETF Stock Performance

Shares of NYSEARCA:IYM opened at $148.86 on Friday. The company’s 50-day moving average is $148.21 and its 200 day moving average is $140.70. The company has a market capitalization of $521.01 million, a P/E ratio of 22.43 and a beta of 1.14. iShares U.S. Basic Materials ETF has a fifty-two week low of $115.07 and a fifty-two week high of $152.55.

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

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Magnus Financial Group LLC boosted its holdings in shares of iShares U.S. Basic Materials ETF by 4.1% in the 2nd quarter. Magnus Financial Group LLC now owns 1,944 shares of the company’s stock worth $272,000 after buying an additional 76 shares during the last quarter. Wealth Management Partners LLC boosted its holdings in shares of iShares U.S. Basic Materials ETF by 3.4% in the 3rd quarter. Wealth Management Partners LLC now owns 2,534 shares of the company’s stock worth $376,000 after buying an additional 84 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of iShares U.S. Basic Materials ETF by 2.5% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 3,823 shares of the company’s stock worth $515,000 after buying an additional 92 shares during the last quarter. Picton Mahoney Asset Management boosted its holdings in shares of iShares U.S. Basic Materials ETF by 12.5% in the 1st quarter. Picton Mahoney Asset Management now owns 900 shares of the company’s stock worth $121,000 after buying an additional 100 shares during the last quarter. Finally, Focus Financial Network Inc. boosted its holdings in shares of iShares U.S. Basic Materials ETF by 7.1% in the 2nd quarter. Focus Financial Network Inc. now owns 1,850 shares of the company’s stock worth $259,000 after buying an additional 123 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.