iShares U.S. Basic Materials ETF (NYSEARCA:IYM – Get Free Report) shares passed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $181.63 and traded as high as $183.63. iShares U.S. Basic Materials ETF shares last traded at $183.61, with a volume of 824,147 shares changing hands.
iShares U.S. Basic Materials ETF Stock Performance
The stock has a market cap of $1.29 billion, a price-to-earnings ratio of 21.73 and a beta of 0.97. The company’s 50 day simple moving average is $183.20 and its 200 day simple moving average is $181.73.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in IYM. The Manufacturers Life Insurance Company boosted its holdings in 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. AIA Group Ltd bought a new position in shares of iShares U.S. Basic Materials ETF in the third quarter valued at $109,763,000. Bank of America Corp DE increased its holdings in shares of iShares U.S. Basic Materials ETF by 176.5% in the first 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 in the last quarter. Bank of Nova Scotia lifted its position in shares of iShares U.S. Basic Materials ETF by 191.8% during the 1st quarter. Bank of Nova Scotia now owns 74,110 shares of the company’s stock valued at $13,037,000 after acquiring an additional 48,710 shares during the last quarter. Finally, CoreCap Advisors LLC lifted its position in shares of iShares U.S. Basic Materials ETF by 324.4% during the 2nd quarter. CoreCap Advisors LLC now owns 61,497 shares of the company’s stock valued at $11,041,000 after acquiring an additional 47,006 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.
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