iShares U.S. Basic Materials ETF (NYSEARCA:IYM) Sees Strong Trading Volume – Here’s Why

iShares U.S. Basic Materials ETF (NYSEARCA:IYM) saw unusually-high trading volume on Tuesday . Approximately 467,241 shares traded hands during mid-day trading, an increase of 167% from the previous session’s volume of 174,904 shares.The stock last traded at $185.45 and had previously closed at $185.25.

iShares U.S. Basic Materials ETF Trading Down 0.2%

The business has a 50 day simple moving average of $170.31 and a two-hundred day simple moving average of $155.30. The stock has a market cap of $1.18 billion, a price-to-earnings ratio of 22.43 and a beta of 1.07.

Institutional Investors Weigh In On iShares U.S. Basic Materials ETF

Institutional investors have recently modified their holdings of the stock. Jane Street Group LLC increased its holdings in iShares U.S. Basic Materials ETF by 266.1% in the first quarter. Jane Street Group LLC now owns 5,707 shares of the company’s stock valued at $769,000 after buying an additional 4,148 shares during the last quarter. Bank of Montreal Can grew its position in shares of iShares U.S. Basic Materials ETF by 11.6% in the 2nd quarter. Bank of Montreal Can now owns 7,826 shares of the company’s stock worth $1,096,000 after acquiring an additional 815 shares in the last quarter. Simplex Trading LLC increased its holdings in shares of iShares U.S. Basic Materials ETF by 442.0% in the 2nd quarter. Simplex Trading LLC now owns 271 shares of the company’s stock valued at $37,000 after acquiring an additional 221 shares during the last quarter. AE Wealth Management LLC raised its position 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 valued at $2,204,000 after acquiring an additional 1,328 shares in the last quarter. Finally, Cetera Investment Advisers lifted its stake in iShares U.S. Basic Materials ETF by 1.2% during the second quarter. Cetera Investment Advisers now owns 16,692 shares of the company’s stock worth $2,337,000 after purchasing an additional 204 shares during the last quarter.

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.