iShares U.S. Basic Materials ETF (NYSEARCA:IYM) Sees Strong Trading Volume – Here’s What Happened

Shares of iShares U.S. Basic Materials ETF (NYSEARCA:IYM) saw unusually-strong trading volume on Thursday . Approximately 577,373 shares changed hands during trading, an increase of 171% from the previous session’s volume of 213,218 shares.The stock last traded at $183.25 and had previously closed at $182.62.

iShares U.S. Basic Materials ETF Trading Up 0.3%

The firm’s fifty day moving average price is $178.99 and its 200-day moving average price is $162.63. The company has a market cap of $1.46 billion, a P/E ratio of 22.43 and a beta of 1.01.

Institutional Trading of iShares U.S. Basic Materials ETF

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC boosted 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 purchasing an additional 69 shares in the last quarter. Comerica Bank boosted its position in shares of iShares U.S. Basic Materials ETF by 3.3% during the third quarter. Comerica Bank now owns 2,566 shares of the company’s stock worth $380,000 after purchasing an additional 83 shares in the last quarter. Wealth Management Partners LLC boosted its position in shares of iShares U.S. Basic Materials ETF by 3.4% during the third quarter. Wealth Management Partners LLC now owns 2,534 shares of the company’s stock worth $376,000 after purchasing an additional 84 shares in the last quarter. Magnus Financial Group LLC boosted its position in shares of iShares U.S. Basic Materials ETF by 4.6% during the fourth quarter. Magnus Financial Group LLC now owns 2,035 shares of the company’s stock worth $313,000 after purchasing an additional 90 shares in the last quarter. Finally, CreativeOne Wealth LLC boosted its holdings 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 buying an additional 91 shares during the period.

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.