iShares U.S. Basic Materials ETF (NYSEARCA:IYM) Short Interest Down 43.0% in February

iShares U.S. Basic Materials ETF (NYSEARCA:IYM) saw a large decrease in short interest in the month of February. As of February 13th, there was short interest totaling 42,886 shares, a decrease of 43.0% from the January 29th total of 75,267 shares. Based on an average daily volume of 173,193 shares, the short-interest ratio is presently 0.2 days. Currently, 0.7% of the company’s shares are sold short. Currently, 0.7% of the company’s shares are sold short. Based on an average daily volume of 173,193 shares, the short-interest ratio is presently 0.2 days.

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

A number of hedge funds have recently added to or reduced their stakes in IYM. The Manufacturers Life Insurance Company bought a new position in shares of iShares U.S. Basic Materials ETF during the 4th quarter worth approximately $71,967,000. Northwestern Mutual Wealth Management Co. increased its position in shares of iShares U.S. Basic Materials ETF by 129.7% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 155,343 shares of the company’s stock valued at $23,917,000 after purchasing an additional 87,723 shares during the last quarter. Three Seasons Wealth LLC bought a new position in iShares U.S. Basic Materials ETF during the fourth quarter valued at about $5,125,000. Tcfg Wealth Management LLC purchased a new stake in shares of iShares U.S. Basic Materials ETF during the 3rd quarter worth approximately $4,901,000. Finally, Corient Private Wealth LLC purchased a new position in shares of iShares U.S. Basic Materials ETF during the 4th quarter valued at $3,709,000.

iShares U.S. Basic Materials ETF Price Performance

Shares of iShares U.S. Basic Materials ETF stock traded up $1.03 during trading on Monday, hitting $189.59. 115,795 shares of the company were exchanged, compared to its average volume of 167,322. The firm has a market capitalization of $1.19 billion, a P/E ratio of 22.43 and a beta of 1.07. iShares U.S. Basic Materials ETF has a 1-year low of $115.07 and a 1-year high of $189.81. The firm’s fifty day moving average price is $172.37 and its 200 day moving average price is $156.29.

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.