iShares U.S. Basic Materials ETF (NYSEARCA:IYM) Shares Shorted: Short Interest Up 162.5% in October

iShares U.S. Basic Materials ETF (NYSEARCA:IYM) saw a large growth in short interest in October. As of October 15th, there was short interest totaling 74,757 shares, a growth of 162.5% from the September 30th total of 28,483 shares. Based on an average daily trading volume, of 251,545 shares, the short-interest ratio is presently 0.3 days. Approximately 1.0% of the shares of the stock are sold short.

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

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Compass Financial Management LLC purchased a new position in iShares U.S. Basic Materials ETF during the 2nd quarter worth approximately $29,000. Farmers & Merchants Investments Inc. acquired a new stake in iShares U.S. Basic Materials ETF during the 3rd quarter valued at $33,000. Turtle Creek Wealth Advisors LLC acquired a new stake in iShares U.S. Basic Materials ETF during the 1st quarter valued at $36,000. Laurel Wealth Advisors LLC acquired a new stake in iShares U.S. Basic Materials ETF during the 3rd quarter valued at $37,000. Finally, Ascentis Independent Advisors purchased a new stake in shares of iShares U.S. Basic Materials ETF in the first quarter valued at $40,000.

iShares U.S. Basic Materials ETF Price Performance

IYM stock opened at $179.52 on Friday. iShares U.S. Basic Materials ETF has a 12 month low of $139.08 and a 12 month high of $197.36. The firm has a market cap of $1.29 billion, a PE ratio of 22.43 and a beta of 0.98. The firm has a 50 day simple moving average of $184.68 and a 200 day simple moving average of $181.44.

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.