Short Interest in iShares U.S. Basic Materials ETF (NYSEARCA:IYM) Declines By 68.4%

iShares U.S. Basic Materials ETF (NYSEARCA:IYM) saw a large decline in short interest during the month of May. As of May 29th, there was short interest totaling 12,187 shares, a decline of 68.4% from the May 14th total of 38,539 shares. Approximately 0.1% of the company’s stock are short sold. Based on an average daily volume of 282,920 shares, the short-interest ratio is currently 0.0 days.

iShares U.S. Basic Materials ETF Stock Up 2.0%

Shares of IYM traded up $3.59 during midday trading on Thursday, hitting $181.77. The company had a trading volume of 9,795 shares, compared to its average volume of 214,914. The company’s 50 day moving average price is $182.88 and its 200 day moving average price is $172.73. The stock has a market cap of $1.58 billion, a price-to-earnings ratio of 22.43 and a beta of 0.95. iShares U.S. Basic Materials ETF has a 52 week low of $135.94 and a 52 week high of $189.80.

Institutional Investors Weigh In On iShares U.S. Basic Materials ETF

Several hedge funds and other institutional investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company increased its position in shares of iShares U.S. Basic Materials ETF by 64.2% in 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 during the last quarter. Bank of America Corp DE grew its position 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 buying an additional 239,188 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its position in shares of 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 valued at $23,917,000 after buying an additional 87,723 shares during the last quarter. LPL Financial LLC grew its position in shares of 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 valued at $15,643,000 after buying an additional 964 shares during the last quarter. Finally, UBS Group AG grew its position in shares of iShares U.S. Basic Materials ETF by 2.0% during the 4th quarter. UBS Group AG now owns 79,669 shares of the company’s stock valued at $12,266,000 after buying an additional 1,592 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.