Short Interest in iShares U.S. Basic Materials ETF (NYSEARCA:IYM) Rises By 90.6%

iShares U.S. Basic Materials ETF (NYSEARCA:IYM) was the recipient of a large increase in short interest during the month of February. As of February 27th, there was short interest totaling 81,720 shares, an increase of 90.6% from the February 12th total of 42,886 shares. Currently, 1.3% of the shares of the company are sold short. Based on an average daily trading volume, of 121,456 shares, the days-to-cover ratio is currently 0.7 days. Based on an average daily trading volume, of 121,456 shares, the days-to-cover ratio is currently 0.7 days. Currently, 1.3% of the shares of the company are sold short.

iShares U.S. Basic Materials ETF Stock Down 0.5%

IYM stock traded down $0.92 during mid-day trading on Thursday, reaching $176.94. The company had a trading volume of 98,771 shares, compared to its average volume of 162,504. The stock has a market capitalization of $1.11 billion, a P/E ratio of 22.43 and a beta of 1.07. iShares U.S. Basic Materials ETF has a one year low of $115.07 and a one year high of $189.80. The stock’s 50-day simple moving average is $176.08 and its two-hundred day simple moving average is $157.98.

Institutional Trading of iShares U.S. Basic Materials ETF

A number of large investors have recently modified their holdings of the company. Jane Street Group LLC boosted its stake in iShares U.S. Basic Materials ETF by 266.1% during the 1st quarter. Jane Street Group LLC now owns 5,707 shares of the company’s stock valued at $769,000 after purchasing an additional 4,148 shares during the period. Bank of Montreal Can increased its stake in shares of iShares U.S. Basic Materials ETF by 11.6% in the second quarter. Bank of Montreal Can now owns 7,826 shares of the company’s stock valued at $1,096,000 after purchasing an additional 815 shares during the period. Simplex Trading LLC raised its holdings in shares of iShares U.S. Basic Materials ETF by 442.0% during the second 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 last quarter. AE Wealth Management LLC raised its holdings in shares of iShares U.S. Basic Materials ETF by 9.2% during the second quarter. AE Wealth Management LLC now owns 15,740 shares of the company’s stock valued at $2,204,000 after buying an additional 1,328 shares during the last quarter. Finally, Cetera Investment Advisers boosted its position in shares of iShares U.S. Basic Materials ETF by 1.2% during the second quarter. Cetera Investment Advisers now owns 16,692 shares of the company’s stock worth $2,337,000 after buying an additional 204 shares during the period.

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.