iShares U.S. Basic Materials ETF (NYSEARCA:IYM) Sees Large Volume Increase – Time to Buy?

iShares U.S. Basic Materials ETF (NYSEARCA:IYM) saw unusually-high trading volume on Friday . Approximately 566,152 shares traded hands during trading, an increase of 163% from the previous session’s volume of 215,305 shares.The stock last traded at $187.73 and had previously closed at $184.79.

iShares U.S. Basic Materials ETF Stock Performance

The company has a 50 day simple moving average of $183.24 and a two-hundred day simple moving average of $173.13. The firm has a market cap of $1.63 billion, a PE ratio of 22.43 and a beta of 0.95.

Institutional Trading of iShares U.S. Basic Materials ETF

Several large investors have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company grew its stake 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 valued at $135,022,000 after purchasing an additional 300,080 shares during the last quarter. Bank of America Corp DE grew its stake in 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 purchasing an additional 239,188 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its stake 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 valued at $23,917,000 after purchasing an additional 87,723 shares during the last quarter. LPL Financial LLC grew its stake 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 valued at $15,643,000 after purchasing an additional 964 shares during the last quarter. Finally, UBS Group AG grew its stake in 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 purchasing an additional 1,592 shares during the last quarter.

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.