iShares U.S. Basic Materials ETF (NYSEARCA:IYM) Sees Strong Trading Volume – What’s Next?

iShares U.S. Basic Materials ETF (NYSEARCA:IYM) saw strong trading volume on Wednesday . 66,837 shares were traded during trading, an increase of 213% from the previous session’s volume of 21,344 shares.The stock last traded at $136.46 and had previously closed at $136.41.

iShares U.S. Basic Materials ETF Stock Performance

The company’s 50-day moving average price is $137.07 and its two-hundred day moving average price is $141.15. The stock has a market cap of $516.76 million, a PE ratio of 24.29 and a beta of 1.15.

Hedge Funds Weigh In On iShares U.S. Basic Materials ETF

A number of large investors have recently modified their holdings of the company. Wilmington Savings Fund Society FSB bought a new position in iShares U.S. Basic Materials ETF during the third quarter valued at approximately $26,000. BankPlus Trust Department bought a new position in shares of iShares U.S. Basic Materials ETF during the 4th quarter valued at $28,000. Farmers & Merchants Investments Inc. purchased a new position in iShares U.S. Basic Materials ETF in the 4th quarter worth $42,000. Truvestments Capital LLC purchased a new position in iShares U.S. Basic Materials ETF in the 3rd quarter worth $71,000. Finally, IFP Advisors Inc lifted its stake in iShares U.S. Basic Materials ETF by 146.5% in the fourth quarter. IFP Advisors Inc now owns 673 shares of the company’s stock worth $87,000 after purchasing an additional 400 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.