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

iShares U.S. Basic Materials ETF (NYSEARCA:IYM) saw an uptick in trading volume on Monday . 46,438 shares traded hands during trading, an increase of 55% from the previous session’s volume of 29,946 shares.The stock last traded at $149.98 and had previously closed at $149.46.

iShares U.S. Basic Materials ETF Stock Performance

The stock has a market capitalization of $524.97 million, a price-to-earnings ratio of 22.43 and a beta of 1.07. The business has a 50-day moving average of $146.29 and a 200-day moving average of $143.92.

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

Several large investors have recently made changes to their positions in IYM. The Manufacturers Life Insurance Company acquired a new stake in shares of iShares U.S. Basic Materials ETF in the second quarter valued at $44,278,000. PGIM Custom Harvest LLC lifted its position in shares of iShares U.S. Basic Materials ETF by 1.4% during the second quarter. PGIM Custom Harvest LLC now owns 306,221 shares of the company’s stock worth $42,874,000 after purchasing an additional 4,290 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of iShares U.S. Basic Materials ETF by 5.2% in the second quarter. Bank of America Corp DE now owns 131,814 shares of the company’s stock valued at $18,455,000 after purchasing an additional 6,462 shares during the period. LPL Financial LLC boosted its stake in shares of iShares U.S. Basic Materials ETF by 9.5% in the first quarter. LPL Financial LLC now owns 83,942 shares of the company’s stock valued at $11,315,000 after purchasing an additional 7,315 shares during the period. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in shares of iShares U.S. Basic Materials ETF by 6.5% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 71,150 shares of the company’s stock valued at $9,591,000 after purchasing an additional 4,334 shares in 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.