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 Tuesday . Approximately 467,241 shares were traded during trading, an increase of 167% from the previous session’s volume of 174,904 shares.The stock last traded at $185.45 and had previously closed at $185.25.

iShares U.S. Basic Materials ETF Stock Performance

The stock’s fifty day moving average price is $168.90 and its 200-day moving average price is $154.77. The firm has a market cap of $1.17 billion, a PE ratio of 22.43 and a beta of 1.07.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company acquired a new stake in shares of iShares U.S. Basic Materials ETF in the 4th quarter worth approximately $71,967,000. PGIM Custom Harvest LLC boosted its position in iShares U.S. Basic Materials ETF by 1.4% during the second quarter. PGIM Custom Harvest LLC now owns 306,221 shares of the company’s stock worth $42,874,000 after purchasing an additional 4,290 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in iShares U.S. Basic Materials ETF by 129.7% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 155,343 shares of the company’s stock worth $23,917,000 after purchasing an additional 87,723 shares in the last quarter. Bank of America Corp DE grew its holdings in iShares U.S. Basic Materials ETF by 5.2% in the second quarter. Bank of America Corp DE now owns 131,814 shares of the company’s stock valued at $18,455,000 after purchasing an additional 6,462 shares during the last quarter. Finally, LPL Financial LLC increased its position in shares of iShares U.S. Basic Materials ETF by 1.0% in the fourth 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 in 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.