iShares U.S. Basic Materials ETF (NYSEARCA:IYM) Sets New 52-Week High – What’s Next?

iShares U.S. Basic Materials ETF (NYSEARCA:IYM) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $187.61 and last traded at $187.09, with a volume of 513263 shares changing hands. The stock had previously closed at $185.25.

iShares U.S. Basic Materials ETF Price Performance

The company has a 50-day moving average of $171.01 and a 200 day moving average of $155.53. The company has a market cap of $1.18 billion, a PE ratio of 22.43 and a beta of 1.07.

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

Several large investors have recently modified their holdings of the stock. Legacy Wealth Managment LLC ID bought a new position in iShares U.S. Basic Materials ETF during the fourth quarter valued at $36,000. Pin Oak Investment Advisors Inc. purchased a new stake in iShares U.S. Basic Materials ETF in the 4th quarter worth about $38,000. Strive Financial Group LLC purchased a new stake in iShares U.S. Basic Materials ETF in the 4th quarter worth about $39,000. Simplex Trading LLC lifted its stake in iShares U.S. Basic Materials ETF by 442.0% in the second quarter. Simplex Trading LLC now owns 271 shares of the company’s stock worth $37,000 after purchasing an additional 221 shares during the last quarter. Finally, United Financial Planning Group LLC purchased a new position in shares of iShares U.S. Basic Materials ETF during the third quarter valued at approximately $41,000.

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.