Short Interest in iShares U.S. Basic Materials ETF (NYSEARCA:IYM) Declines By 22.6%

iShares U.S. Basic Materials ETF (NYSEARCA:IYM) was the recipient of a significant decline in short interest during the month of December. As of December 15th, there was short interest totaling 22,778 shares, a decline of 22.6% from the November 30th total of 29,433 shares. Approximately 0.7% of the shares of the company are sold short. Based on an average daily trading volume, of 155,717 shares, the days-to-cover ratio is presently 0.1 days. Based on an average daily trading volume, of 155,717 shares, the days-to-cover ratio is presently 0.1 days. Approximately 0.7% of the shares of the company are sold short.

iShares U.S. Basic Materials ETF Stock Performance

Shares of NYSEARCA IYM traded up $0.12 during trading hours on Tuesday, reaching $155.48. 24,782 shares of the stock were exchanged, compared to its average volume of 37,451. The stock’s fifty day simple moving average is $147.97 and its 200 day simple moving average is $146.43. The firm has a market capitalization of $544.18 million, a price-to-earnings ratio of 22.43 and a beta of 1.07. iShares U.S. Basic Materials ETF has a 52 week low of $115.07 and a 52 week high of $157.90.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in IYM. Focus Financial Network Inc. raised its stake in iShares U.S. Basic Materials ETF by 7.1% in the second quarter. Focus Financial Network Inc. now owns 1,850 shares of the company’s stock valued at $259,000 after purchasing an additional 123 shares in the last quarter. Farther Finance Advisors LLC raised its position in shares of iShares U.S. Basic Materials ETF by 4,600.0% in the 2nd quarter. Farther Finance Advisors LLC now owns 282 shares of the company’s stock valued at $39,000 after buying an additional 276 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of iShares U.S. Basic Materials ETF by 5.4% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 3,818 shares of the company’s stock worth $552,000 after acquiring an additional 196 shares during the period. AE Wealth Management LLC lifted its holdings in shares of iShares U.S. Basic Materials ETF by 9.2% during the 2nd quarter. AE Wealth Management LLC now owns 15,740 shares of the company’s stock worth $2,204,000 after acquiring an additional 1,328 shares during the period. Finally, AlphaCore Capital LLC acquired a new stake in shares of iShares U.S. Basic Materials ETF in the 2nd quarter valued at $110,000.

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.