Wealthstar Advisors LLC Takes $1.93 Million Position in iShares U.S. Basic Materials ETF $IYM

Wealthstar Advisors LLC acquired a new stake in shares of iShares U.S. Basic Materials ETF (NYSEARCA:IYM) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 10,986 shares of the company’s stock, valued at approximately $1,933,000. iShares U.S. Basic Materials ETF accounts for approximately 0.9% of Wealthstar Advisors LLC’s portfolio, making the stock its 18th biggest position. Wealthstar Advisors LLC owned approximately 0.12% of iShares U.S. Basic Materials ETF at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Tcfg Wealth Management LLC bought a new position in shares of iShares U.S. Basic Materials ETF in the third quarter worth approximately $4,901,000. Northwestern Mutual Wealth Management Co. raised its position in shares of iShares U.S. Basic Materials ETF by 129.7% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 155,343 shares of the company’s stock valued at $23,917,000 after purchasing an additional 87,723 shares during the period. Three Seasons Wealth LLC purchased a new position in shares of iShares U.S. Basic Materials ETF during the 4th quarter valued at $5,125,000. Corient Private Wealth LLC purchased a new position in shares of iShares U.S. Basic Materials ETF during the 4th quarter valued at $1,354,000. Finally, Counterweight Ventures LLC boosted its holdings in iShares U.S. Basic Materials ETF by 207.6% in the 1st quarter. Counterweight Ventures LLC now owns 11,829 shares of the company’s stock worth $2,081,000 after buying an additional 7,984 shares during the period.

iShares U.S. Basic Materials ETF Stock Performance

Shares of IYM stock opened at $182.15 on Friday. iShares U.S. Basic Materials ETF has a 52-week low of $138.03 and a 52-week high of $191.37. The firm has a market capitalization of $1.38 billion, a PE ratio of 22.43 and a beta of 0.96. The stock has a fifty day simple moving average of $183.27 and a two-hundred day simple moving average of $176.73.

iShares U.S. Basic Materials ETF 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.