iShares U.S. Basic Materials ETF (NYSEARCA:IYM) Short Interest Down 29.7% in January

iShares U.S. Basic Materials ETF (NYSEARCA:IYM) was the recipient of a large decline in short interest during the month of January. As of January 30th, there was short interest totaling 75,267 shares, a decline of 29.7% from the January 15th total of 107,066 shares. Based on an average daily volume of 106,166 shares, the short-interest ratio is currently 0.7 days. Approximately 1.2% of the company’s shares are short sold. Approximately 1.2% of the company’s shares are short sold. Based on an average daily volume of 106,166 shares, the short-interest ratio is currently 0.7 days.

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

Several hedge funds have recently added to or reduced their stakes in the company. Focus Partners Wealth raised its holdings in iShares U.S. Basic Materials ETF by 12.3% during the 4th quarter. Focus Partners Wealth now owns 13,714 shares of the company’s stock worth $2,111,000 after purchasing an additional 1,503 shares during the last quarter. Kestra Advisory Services LLC grew its position in shares of iShares U.S. Basic Materials ETF by 3.5% during the 4th quarter. Kestra Advisory Services LLC now owns 4,086 shares of the company’s stock worth $629,000 after buying an additional 137 shares during the period. CreativeOne Wealth LLC grew its position in shares of iShares U.S. Basic Materials ETF by 28.9% during the 4th quarter. CreativeOne Wealth LLC now owns 2,053 shares of the company’s stock worth $316,000 after buying an additional 460 shares during the period. The Manufacturers Life Insurance Company bought a new stake in shares of iShares U.S. Basic Materials ETF during the fourth quarter worth approximately $71,967,000. Finally, Pin Oak Investment Advisors Inc. acquired a new position in iShares U.S. Basic Materials ETF in the fourth quarter valued at approximately $38,000.

iShares U.S. Basic Materials ETF Stock Up 1.3%

NYSEARCA:IYM traded up $2.33 during trading hours on Monday, hitting $183.08. 80,219 shares of the stock were exchanged, compared to its average volume of 182,821. The company has a market capitalization of $1.15 billion, a P/E ratio of 22.43 and a beta of 1.07. The company’s 50 day moving average is $164.91 and its two-hundred day moving average is $153.00. iShares U.S. Basic Materials ETF has a twelve month low of $115.07 and a twelve month high of $186.68.

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.