Shares of iShares U.S. Basic Materials ETF (NYSEARCA:IYM – Get Free Report) saw unusually-high trading volume on Wednesday. 274,715 shares were traded during mid-day trading, an increase of 26% from the average daily volume of 218,010 shares. The stock last traded at $181.4460 and had previously closed at $179.69.
iShares U.S. Basic Materials ETF Price Performance
The business has a fifty day moving average price of $184.11 and a 200 day moving average price of $181.56. The company has a market capitalization of $1.31 billion, a price-to-earnings ratio of 21.73 and a beta of 0.97.
Institutional Trading of iShares U.S. Basic Materials ETF
Hedge funds have recently modified their holdings of the company. AIA Group Ltd bought a new stake in shares of iShares U.S. Basic Materials ETF during the third quarter worth $109,763,000. The Manufacturers Life Insurance Company increased its holdings in iShares U.S. Basic Materials ETF by 64.2% during the 1st quarter. The Manufacturers Life Insurance Company now owns 767,520 shares of the company’s stock worth $135,022,000 after purchasing an additional 300,080 shares in the last quarter. Bank of America Corp DE increased its stake in iShares U.S. Basic Materials ETF by 176.5% in the 1st quarter. Bank of America Corp DE now owns 374,722 shares of the company’s stock valued at $65,921,000 after buying an additional 239,188 shares during the last quarter. Principal Financial Group Inc. acquired a new position in iShares U.S. Basic Materials ETF during the first quarter worth $10,112,000. Finally, WealthCare Asset Management LLC bought a new stake in iShares U.S. Basic Materials ETF in the 1st quarter valued at $8,780,000.
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.
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