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

iShares U.S. Basic Materials ETF (NYSEARCA:IYM) was the recipient of a significant growth in short interest in the month of January. As of January 15th, there was short interest totaling 107,066 shares, a growth of 119.0% from the December 31st total of 48,897 shares. Based on an average daily volume of 269,257 shares, the days-to-cover ratio is presently 0.4 days. Approximately 1.7% of the shares of the company are short sold. Approximately 1.7% of the shares of the company are short sold. Based on an average daily volume of 269,257 shares, the days-to-cover ratio is presently 0.4 days.

iShares U.S. Basic Materials ETF Stock Down 2.4%

Shares of IYM traded down $4.17 during mid-day trading on Friday, reaching $171.87. The company had a trading volume of 14,494 shares, compared to its average volume of 182,776. The stock has a market capitalization of $1.08 billion, a P/E ratio of 22.43 and a beta of 1.07. iShares U.S. Basic Materials ETF has a 52-week low of $115.07 and a 52-week high of $179.47. The stock has a 50 day moving average of $158.27 and a two-hundred day moving average of $150.40.

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

Several institutional investors and 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 during the 2nd quarter worth about $44,278,000. Three Seasons Wealth LLC purchased a new position in iShares U.S. Basic Materials ETF during the fourth quarter worth about $5,125,000. Tcfg Wealth Management LLC acquired a new stake in shares of iShares U.S. Basic Materials ETF during the third quarter valued at about $4,901,000. Laurel Wealth Advisors LLC increased its position in shares of iShares U.S. Basic Materials ETF by 13,901.4% during the second quarter. Laurel Wealth Advisors LLC now owns 19,602 shares of the company’s stock valued at $2,744,000 after acquiring an additional 19,462 shares during the last quarter. Finally, Bank of America Corp DE raised its stake in shares of iShares U.S. Basic Materials ETF by 5.2% in the 2nd quarter. Bank of America Corp DE now owns 131,814 shares of the company’s stock valued at $18,455,000 after acquiring an additional 6,462 shares during the period.

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.