iShares U.S. Basic Materials ETF (NYSEARCA:IYM) Short Interest Up 114.7% in December

iShares U.S. Basic Materials ETF (NYSEARCA:IYM) was the target of a large growth in short interest in the month of December. As of December 31st, there was short interest totaling 48,897 shares, a growth of 114.7% from the December 15th total of 22,778 shares. Currently, 0.9% of the company’s shares are sold short. Based on an average daily trading volume, of 73,499 shares, the days-to-cover ratio is currently 0.7 days. Based on an average daily trading volume, of 73,499 shares, the days-to-cover ratio is currently 0.7 days. Currently, 0.9% of the company’s shares are sold short.

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

A number of hedge funds have recently added to or reduced their stakes in the stock. Focus Financial Network Inc. boosted its position in shares of iShares U.S. Basic Materials ETF by 7.1% in the 2nd quarter. Focus Financial Network Inc. now owns 1,850 shares of the company’s stock worth $259,000 after purchasing an additional 123 shares during the last quarter. Farther Finance Advisors LLC increased its position in shares of iShares U.S. Basic Materials ETF by 4,600.0% during the second quarter. Farther Finance Advisors LLC now owns 282 shares of the company’s stock worth $39,000 after acquiring an additional 276 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of iShares U.S. Basic Materials ETF by 5.4% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 3,818 shares of the company’s stock valued at $552,000 after purchasing an additional 196 shares during the period. AE Wealth Management LLC boosted its position in iShares U.S. Basic Materials ETF by 9.2% during the 2nd quarter. AE Wealth Management LLC now owns 15,740 shares of the company’s stock worth $2,204,000 after acquiring an additional 1,328 shares during the last quarter. Finally, AlphaCore Capital LLC bought a new position in iShares U.S. Basic Materials ETF in the second quarter valued at $110,000.

iShares U.S. Basic Materials ETF Price Performance

IYM traded down $0.85 during trading hours on Friday, reaching $169.46. 101,180 shares of the stock traded hands, compared to its average volume of 253,925. iShares U.S. Basic Materials ETF has a fifty-two week low of $115.07 and a fifty-two week high of $170.70. The firm’s fifty day simple moving average is $152.37 and its two-hundred day simple moving average is $148.35. The company has a market cap of $864.25 million, a price-to-earnings ratio of 22.43 and a beta of 1.07.

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.