iShares U.S. Basic Materials ETF (NYSEARCA:IYM) Sees Unusually-High Trading Volume – Time to Buy?

iShares U.S. Basic Materials ETF (NYSEARCA:IYM) shares saw an uptick in trading volume on Friday . 26,992 shares changed hands during mid-day trading, an increase of 20% from the previous session’s volume of 22,470 shares.The stock last traded at $137.90 and had previously closed at $137.71.

iShares U.S. Basic Materials ETF Stock Performance

The firm has a market cap of $631.95 million, a price-to-earnings ratio of 13.76 and a beta of 0.87. The business has a fifty day moving average of $137.57 and a two-hundred day moving average of $142.45.

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

Several institutional investors and hedge funds have recently made changes to their positions in IYM. Signal Advisors Wealth LLC raised its stake 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 valued at $321,000 after purchasing an additional 76 shares during the last quarter. CWM LLC raised its position in shares of iShares U.S. Basic Materials ETF by 15.3% in the third quarter. CWM LLC now owns 724 shares of the company’s stock valued at $109,000 after buying an additional 96 shares during the last quarter. Focus Financial Network Inc. boosted its position in iShares U.S. Basic Materials ETF by 7.4% during the third quarter. Focus Financial Network Inc. now owns 1,621 shares of the company’s stock worth $243,000 after acquiring an additional 111 shares during the last quarter. HighTower Advisors LLC grew its stake in iShares U.S. Basic Materials ETF by 3.3% in the 3rd quarter. HighTower Advisors LLC now owns 3,522 shares of the company’s stock worth $528,000 after acquiring an additional 111 shares during the period. Finally, EP Wealth Advisors LLC raised its holdings in iShares U.S. Basic Materials ETF by 9.7% in the 3rd quarter. EP Wealth Advisors LLC now owns 1,269 shares of the company’s stock valued at $191,000 after acquiring an additional 112 shares during 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.