iShares U.S. Basic Materials ETF (NYSEARCA:IYM) Sees Strong Trading Volume – Time to Buy?

iShares U.S. Basic Materials ETF (NYSEARCA:IYM) shares saw unusually-strong trading volume on Monday . 511,548 shares were traded during trading, an increase of 132% from the previous session’s volume of 220,874 shares.The stock last traded at $176.51 and had previously closed at $175.70.

iShares U.S. Basic Materials ETF Trading Up 2.0%

The stock’s 50-day moving average price is $180.87 and its 200-day moving average price is $179.85. The company has a market capitalization of $1.23 billion, a P/E ratio of 22.43 and a beta of 0.96.

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

Institutional investors and hedge funds have recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC lifted its holdings in iShares U.S. Basic Materials ETF by 1.8% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 4,000 shares of the company’s stock worth $652,000 after acquiring an additional 69 shares during the last quarter. Comerica Bank grew its holdings in shares of iShares U.S. Basic Materials ETF by 3.3% during the third quarter. Comerica Bank now owns 2,566 shares of the company’s stock valued at $380,000 after purchasing an additional 83 shares during the last quarter. CreativeOne Wealth LLC raised its position in shares of iShares U.S. Basic Materials ETF by 6.1% during the 3rd quarter. CreativeOne Wealth LLC now owns 1,593 shares of the company’s stock worth $236,000 after purchasing an additional 91 shares during the period. Sanctuary Advisors LLC raised its position in shares of iShares U.S. Basic Materials ETF by 0.8% during the 4th quarter. Sanctuary Advisors LLC now owns 12,880 shares of the company’s stock worth $1,983,000 after purchasing an additional 103 shares during the period. Finally, Kestra Advisory Services LLC lifted its holdings in shares of iShares U.S. Basic Materials ETF by 3.5% in the 4th quarter. Kestra Advisory Services LLC now owns 4,086 shares of the company’s stock worth $629,000 after purchasing an additional 137 shares during 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.