iShares U.S. Basic Materials ETF (NYSEARCA:IYM) Short Interest Down 29.7% in January

iShares U.S. Basic Materials ETF (NYSEARCA:IYM) was the recipient of a significant drop in short interest in January. As of January 30th, there was short interest totaling 75,267 shares, a drop of 29.7% from the January 15th total of 107,066 shares. Based on an average daily trading volume, of 106,166 shares, the days-to-cover ratio is presently 0.7 days. Approximately 1.2% of the company’s shares are short sold. Approximately 1.2% of the company’s shares are short sold. Based on an average daily trading volume, of 106,166 shares, the days-to-cover ratio is presently 0.7 days.

iShares U.S. Basic Materials ETF Trading Up 1.3%

NYSEARCA:IYM traded up $2.33 during trading hours on Friday, hitting $183.08. The company had a trading volume of 80,219 shares, compared to its average volume of 182,821. iShares U.S. Basic Materials ETF has a 1 year low of $115.07 and a 1 year high of $186.68. The company has a market cap of $1.15 billion, a P/E ratio of 22.43 and a beta of 1.07. The company has a 50-day moving average of $164.91 and a 200 day moving average of $152.93.

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

Hedge funds and other institutional investors have recently bought and sold shares of the company. Jane Street Group LLC boosted its holdings in iShares U.S. Basic Materials ETF by 266.1% in the 1st quarter. Jane Street Group LLC now owns 5,707 shares of the company’s stock valued at $769,000 after purchasing an additional 4,148 shares during the last quarter. Atria Wealth Solutions Inc. purchased a new stake in shares of iShares U.S. Basic Materials ETF during the 2nd quarter valued at approximately $202,000. Mutual Advisors LLC lifted its holdings in iShares U.S. Basic Materials ETF by 297.6% in the second quarter. Mutual Advisors LLC now owns 7,750 shares of the company’s stock valued at $1,148,000 after acquiring an additional 5,801 shares during the last quarter. Stratos Wealth Advisors LLC grew its position in iShares U.S. Basic Materials ETF by 8.8% in the second quarter. Stratos Wealth Advisors LLC now owns 5,132 shares of the company’s stock worth $719,000 after acquiring an additional 416 shares during the period. Finally, Ifrah Financial Services Inc. acquired a new stake in iShares U.S. Basic Materials ETF during the second quarter worth $200,000.

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.