iShares U.S. Basic Materials ETF (NYSEARCA:IYM) Shares Break Above Two Hundred Day Moving Average – Time to Sell?

Shares of iShares U.S. Basic Materials ETF (NYSEARCA:IYM) passed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $181.63 and traded as high as $183.63. iShares U.S. Basic Materials ETF shares last traded at $183.61, with a volume of 824,147 shares changing hands.

iShares U.S. Basic Materials ETF Price Performance

The firm’s fifty day moving average is $183.85 and its two-hundred day moving average is $181.63. The firm has a market capitalization of $1.31 billion, a PE ratio of 21.73 and a beta of 0.97.

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

Institutional investors have recently added to or reduced their stakes in the stock. Simplex Trading LLC purchased a new stake in shares of iShares U.S. Basic Materials ETF during the 3rd quarter worth approximately $25,000. Compass Financial Management LLC bought a new stake in iShares U.S. Basic Materials ETF during the second quarter valued at $29,000. Mycio Wealth Partners LLC purchased a new position in iShares U.S. Basic Materials ETF in the 3rd quarter worth approximately $29,000. Farmers & Merchants Investments Inc. purchased a new stake in iShares U.S. Basic Materials ETF during the third quarter valued at about $33,000. Finally, Laurel Wealth Advisors LLC purchased a new position in shares of iShares U.S. Basic Materials ETF during the third quarter worth approximately $37,000.

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.