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 target of a significant decline in short interest in 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 trading volume, of 106,166 shares, the short-interest ratio is presently 0.7 days. Currently, 1.2% of the shares of the company are sold short. Currently, 1.2% of the shares of the company are sold short. Based on an average daily trading volume, of 106,166 shares, the short-interest ratio is presently 0.7 days.

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

Institutional investors and hedge funds have recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC increased its holdings in 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 buying an additional 69 shares in the last quarter. Comerica Bank grew its position in shares of iShares U.S. Basic Materials ETF by 3.3% during the 3rd quarter. Comerica Bank now owns 2,566 shares of the company’s stock valued at $380,000 after acquiring an additional 83 shares during the period. Wealth Management Partners LLC increased its stake in shares of iShares U.S. Basic Materials ETF by 3.4% in the 3rd quarter. Wealth Management Partners LLC now owns 2,534 shares of the company’s stock valued at $376,000 after purchasing an additional 84 shares in the last quarter. Magnus Financial Group LLC raised its holdings in iShares U.S. Basic Materials ETF by 4.6% in the 4th quarter. Magnus Financial Group LLC now owns 2,035 shares of the company’s stock worth $313,000 after purchasing an additional 90 shares during the period. Finally, CreativeOne Wealth LLC raised its holdings in 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 purchasing an additional 91 shares during the period.

iShares U.S. Basic Materials ETF Stock Performance

Shares of NYSEARCA IYM traded up $2.33 during mid-day trading on Friday, hitting $183.08. The stock had a trading volume of 80,219 shares, compared to its average volume of 182,821. The firm has a market cap of $1.15 billion, a PE ratio of 22.43 and a beta of 1.07. The company has a 50 day moving average of $164.91 and a two-hundred day moving average of $152.93. iShares U.S. Basic Materials ETF has a twelve month low of $115.07 and a twelve month high of $186.68.

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.