iShares U.S. Basic Materials ETF (NYSEARCA:IYM) Reaches New 12-Month High – Still a Buy?

iShares U.S. Basic Materials ETF (NYSEARCA:IYM) shares reached a new 52-week high on Wednesday . The stock traded as high as $179.61 and last traded at $178.18, with a volume of 48833 shares. The stock had previously closed at $176.53.

iShares U.S. Basic Materials ETF Stock Up 0.7%

The stock has a market capitalization of $1.12 billion, a P/E ratio of 22.43 and a beta of 1.07. The business’s 50 day simple moving average is $159.97 and its two-hundred day simple moving average is $151.11.

Institutional Trading of iShares U.S. Basic Materials ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of iShares U.S. Basic Materials ETF by 1.8% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 4,000 shares of the company’s stock valued at $652,000 after purchasing an additional 69 shares in the last quarter. Comerica Bank raised its position in iShares U.S. Basic Materials ETF by 3.3% in the 3rd quarter. Comerica Bank now owns 2,566 shares of the company’s stock valued at $380,000 after buying an additional 83 shares during the last quarter. Wealth Management Partners LLC lifted its stake in iShares U.S. Basic Materials ETF by 3.4% during the 3rd quarter. Wealth Management Partners LLC now owns 2,534 shares of the company’s stock valued at $376,000 after acquiring an additional 84 shares in the last quarter. Magnus Financial Group LLC boosted its holdings in iShares U.S. Basic Materials ETF by 4.6% during the 4th quarter. Magnus Financial Group LLC now owns 2,035 shares of the company’s stock worth $313,000 after acquiring an additional 90 shares during the last quarter. Finally, CreativeOne Wealth LLC grew its stake in shares of iShares U.S. Basic Materials ETF by 6.1% in the 3rd quarter. CreativeOne Wealth LLC now owns 1,593 shares of the company’s stock worth $236,000 after acquiring an additional 91 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.