iShares U.S. Basic Materials ETF (NYSEARCA:IYM) Sees Large Volume Increase – Should You Buy?

iShares U.S. Basic Materials ETF (NYSEARCA:IYM) shares saw unusually-strong trading volume on Wednesday . Approximately 266,079 shares were traded during mid-day trading, an increase of 22% from the previous session’s volume of 218,006 shares.The stock last traded at $183.4560 and had previously closed at $185.35.

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

The company’s 50-day simple moving average is $185.40 and its 200 day simple moving average is $182.29. The company has a market capitalization of $1.10 billion, a P/E ratio of 22.43 and a beta of 0.98.

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

A number of large investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company increased its position in iShares U.S. Basic Materials ETF by 64.2% during the first quarter. The Manufacturers Life Insurance Company now owns 767,520 shares of the company’s stock worth $135,022,000 after buying an additional 300,080 shares during the last quarter. Bank of America Corp DE raised its holdings in iShares U.S. Basic Materials ETF by 176.5% during the first quarter. Bank of America Corp DE now owns 374,722 shares of the company’s stock valued at $65,921,000 after buying an additional 239,188 shares in the last quarter. Bank of Nova Scotia lifted its position in shares of iShares U.S. Basic Materials ETF by 191.8% in the first quarter. Bank of Nova Scotia now owns 74,110 shares of the company’s stock worth $13,037,000 after buying an additional 48,710 shares during the last quarter. CoreCap Advisors LLC lifted its position in shares of iShares U.S. Basic Materials ETF by 324.4% in the second quarter. CoreCap Advisors LLC now owns 61,497 shares of the company’s stock worth $11,041,000 after buying an additional 47,006 shares during the last quarter. Finally, Three Seasons Wealth LLC boosted its stake in shares of iShares U.S. Basic Materials ETF by 99.8% during the 2nd quarter. Three Seasons Wealth LLC now owns 57,963 shares of the company’s stock worth $10,406,000 after acquiring an additional 28,946 shares in the last quarter.

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.