iShares U.S. Basic Materials ETF (NYSEARCA:IYM) Short Interest Update

iShares U.S. Basic Materials ETF (NYSEARCA:IYM) saw a large increase in short interest in the month of June. As of June 15th, there was short interest totaling 435,177 shares, an increase of 3,470.8% from the May 31st total of 12,187 shares. Currently, 5.0% of the company’s stock are short sold. Based on an average daily volume of 318,115 shares, the days-to-cover ratio is presently 1.4 days.

iShares U.S. Basic Materials ETF Trading Down 0.8%

iShares U.S. Basic Materials ETF stock traded down $1.48 on Friday, hitting $180.31. 41,818 shares of the stock traded hands, compared to its average volume of 226,503. The business’s fifty day simple moving average is $183.68 and its 200 day simple moving average is $175.66. The firm has a market cap of $1.57 billion, a P/E ratio of 22.43 and a beta of 0.95. iShares U.S. Basic Materials ETF has a 1 year low of $138.03 and a 1 year high of $191.37.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Legacy Wealth Managment LLC ID bought a new stake in shares of iShares U.S. Basic Materials ETF during the 4th quarter valued at $36,000. Turtle Creek Wealth Advisors LLC purchased a new stake in iShares U.S. Basic Materials ETF during the 1st quarter valued at approximately $36,000. Pin Oak Investment Advisors Inc. bought a new stake in shares of iShares U.S. Basic Materials ETF during the fourth quarter valued at approximately $38,000. Strive Financial Group LLC bought a new stake in shares of iShares U.S. Basic Materials ETF during the fourth quarter valued at approximately $39,000. Finally, Ascentis Independent Advisors bought a new position in shares of iShares U.S. Basic Materials ETF during the first quarter worth $40,000.

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.