iShares U.S. Basic Materials ETF (NYSEARCA:IYM) Hits New 52-Week High – What’s Next?

iShares U.S. Basic Materials ETF (NYSEARCA:IYM) shares hit a new 52-week high on Monday . The company traded as high as $166.23 and last traded at $166.15, with a volume of 29422 shares. The stock had previously closed at $164.94.

iShares U.S. Basic Materials ETF Stock Performance

The company has a market cap of $863.63 million, a PE ratio of 22.43 and a beta of 1.07. The business’s 50-day moving average is $151.19 and its 200 day moving average is $148.05.

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

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Simplex Trading LLC boosted its position in iShares U.S. Basic Materials ETF by 442.0% during the 2nd quarter. Simplex Trading LLC now owns 271 shares of the company’s stock valued at $37,000 after buying an additional 221 shares during the period. Farther Finance Advisors LLC boosted its holdings in shares of iShares U.S. Basic Materials ETF by 4,600.0% during the second quarter. Farther Finance Advisors LLC now owns 282 shares of the company’s stock worth $39,000 after purchasing an additional 276 shares during the period. United Financial Planning Group LLC bought a new stake in shares of iShares U.S. Basic Materials ETF in the third quarter worth about $41,000. Parkside Financial Bank & Trust purchased a new position in iShares U.S. Basic Materials ETF during the 3rd quarter valued at about $52,000. Finally, CX Institutional purchased a new position in iShares U.S. Basic Materials ETF during the 2nd quarter valued at about $67,000.

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.