iShares U.S. Basic Materials ETF (NYSEARCA:IYM) Sets New 52-Week Low – Time to Sell?

iShares U.S. Basic Materials ETF (NYSEARCA:IYM) hit a new 52-week low during mid-day trading on Friday . The company traded as low as $129.71 and last traded at $130.35, with a volume of 1334 shares. The stock had previously closed at $129.84.

iShares U.S. Basic Materials ETF Price Performance

The stock’s fifty day moving average is $145.73 and its 200-day moving average is $144.00. The stock has a market capitalization of $599.33 million, a PE ratio of 13.76 and a beta of 0.87.

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

A number of large investors have recently bought and sold shares of the business. Wilmington Savings Fund Society FSB acquired a new position in shares of iShares U.S. Basic Materials ETF during the 3rd quarter worth about $26,000. EP Wealth Advisors LLC increased its stake in iShares U.S. Basic Materials ETF by 9.7% during the 3rd quarter. EP Wealth Advisors LLC now owns 1,269 shares of the company’s stock worth $191,000 after buying an additional 112 shares in the last quarter. Stifel Financial Corp lifted its position in shares of iShares U.S. Basic Materials ETF by 7.3% in the third quarter. Stifel Financial Corp now owns 3,792 shares of the company’s stock valued at $570,000 after acquiring an additional 257 shares in the last quarter. HighTower Advisors LLC boosted its stake in shares of iShares U.S. Basic Materials ETF by 3.3% in the third quarter. HighTower Advisors LLC now owns 3,522 shares of the company’s stock worth $528,000 after acquiring an additional 111 shares during the last quarter. Finally, Flow Traders U.S. LLC acquired a new position in iShares U.S. Basic Materials ETF in the 3rd quarter valued at $385,000.

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.