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

iShares U.S. Basic Materials ETF (NYSEARCA:IYM) saw strong trading volume on Tuesday . 21,334 shares changed hands during trading, an increase of 3% from the previous session’s volume of 20,809 shares.The stock last traded at $139.04 and had previously closed at $138.54.

iShares U.S. Basic Materials ETF Trading Up 0.7 %

The firm has a market capitalization of $641.52 million, a PE ratio of 13.76 and a beta of 0.87. The business’s 50 day simple moving average is $135.70 and its two-hundred day simple moving average is $142.03.

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

A number of hedge funds have recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC grew its position in shares of iShares U.S. Basic Materials ETF by 11.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 1,635 shares of the company’s stock valued at $212,000 after acquiring an additional 169 shares during the period. HighTower Advisors LLC grew its position in shares of iShares U.S. Basic Materials ETF by 3.3% during the 3rd quarter. HighTower Advisors LLC now owns 3,522 shares of the company’s stock valued at $528,000 after acquiring an additional 111 shares during the period. Stifel Financial Corp boosted its holdings in iShares U.S. Basic Materials ETF by 7.3% in the 3rd quarter. Stifel Financial Corp now owns 3,792 shares of the company’s stock worth $570,000 after buying an additional 257 shares during the period. Sanctuary Advisors LLC bought a new position in iShares U.S. Basic Materials ETF in the 2nd quarter worth $746,000. Finally, Signal Advisors Wealth LLC boosted its holdings in iShares U.S. Basic Materials ETF by 3.2% in the 4th quarter. Signal Advisors Wealth LLC now owns 2,470 shares of the company’s stock worth $321,000 after buying an additional 76 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.