iShares U.S. Basic Materials ETF (NYSEARCA:IYM) Reaches New 1-Year High – Here’s Why

iShares U.S. Basic Materials ETF (NYSEARCA:IYM)’s stock price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $153.04 and last traded at $152.83, with a volume of 528 shares changing hands. The stock had previously closed at $152.30.

iShares U.S. Basic Materials ETF Price Performance

The firm has a market cap of $704.95 million, a P/E ratio of 13.76 and a beta of 0.87. The company has a fifty day moving average of $145.63 and a 200-day moving average of $143.90.

Institutional Trading of iShares U.S. Basic Materials ETF

Institutional investors have recently made changes to their positions in the company. Fairfield Financial Advisors LTD bought a new position in shares of iShares U.S. Basic Materials ETF during the second quarter valued at about $45,000. CWM LLC boosted its stake in shares of iShares U.S. Basic Materials ETF by 15.3% in the 3rd quarter. CWM LLC now owns 724 shares of the company’s stock worth $109,000 after buying an additional 96 shares during the last quarter. DORCHESTER WEALTH MANAGEMENT Co purchased a new position in shares of iShares U.S. Basic Materials ETF in the 1st quarter worth approximately $201,000. Oppenheimer & Co. Inc. bought a new position in shares of iShares U.S. Basic Materials ETF in the first quarter valued at approximately $214,000. Finally, EP Wealth Advisors LLC purchased a new stake in shares of iShares U.S. Basic Materials ETF during the fourth quarter valued at approximately $225,000.

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.