iShares U.S. Basic Materials ETF (NYSEARCA:IYM) Sees Large Volume Increase – What’s Next?

Shares of iShares U.S. Basic Materials ETF (NYSEARCA:IYM) saw unusually-strong trading volume on Wednesday . Approximately 432,055 shares were traded during mid-day 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 company has a market capitalization of $1.38 billion, a P/E ratio of 22.43 and a beta of 0.96. The firm’s fifty day moving average is $183.31 and its 200-day moving average is $176.70.

Institutional Trading of iShares U.S. Basic Materials ETF

A number of hedge funds and other institutional investors have recently modified their holdings of IYM. The Manufacturers Life Insurance Company increased its holdings in shares of 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 worth $135,022,000 after buying an additional 300,080 shares in the last quarter. Bank of America Corp DE boosted its holdings in shares of iShares U.S. Basic Materials ETF by 176.5% during the 1st quarter. Bank of America Corp DE now owns 374,722 shares of the company’s stock valued at $65,921,000 after acquiring an additional 239,188 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in iShares U.S. Basic Materials ETF by 129.7% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 155,343 shares of the company’s stock worth $23,917,000 after acquiring an additional 87,723 shares during the last quarter. LPL Financial LLC grew its position in 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 acquiring an additional 964 shares during the last quarter. Finally, UBS Group AG increased its holdings in iShares U.S. Basic Materials ETF by 2.0% in 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 in 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.