iShares U.S. Basic Materials ETF (NYSEARCA:IYM) Sees Large Decline in Short Interest

iShares U.S. Basic Materials ETF (NYSEARCA:IYM) was the recipient of a significant drop in short interest in the month of April. As of April 15th, there was short interest totaling 48,437 shares, a drop of 74.2% from the March 31st total of 187,596 shares. Based on an average daily trading volume, of 179,857 shares, the short-interest ratio is currently 0.3 days. Approximately 0.5% of the shares of the company are sold short.

iShares U.S. Basic Materials ETF Stock Up 0.7%

NYSEARCA IYM traded up $1.27 during trading hours on Friday, hitting $184.45. The company had a trading volume of 31,839 shares, compared to its average volume of 230,706. iShares U.S. Basic Materials ETF has a fifty-two week low of $128.20 and a fifty-two week high of $189.80. The business has a fifty day simple moving average of $179.58 and a 200-day simple moving average of $164.44. The firm has a market cap of $1.65 billion, a P/E ratio of 22.43 and a beta of 1.01.

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

Large investors have recently added to or reduced their stakes in the stock. Tcfg Wealth Management LLC acquired a new stake in iShares U.S. Basic Materials ETF in the third quarter worth $4,901,000. Three Seasons Wealth LLC acquired a new stake in iShares U.S. Basic Materials ETF in the fourth quarter worth $5,125,000. Titan Wealth CI Ltd acquired a new stake in iShares U.S. Basic Materials ETF in the fourth quarter worth $231,000. Allworth Financial LP increased its position in iShares U.S. Basic Materials ETF by 70.7% in the fourth quarter. Allworth Financial LP now owns 717 shares of the company’s stock worth $110,000 after buying an additional 297 shares during the period. Finally, Pinkerton Wealth LLC acquired a new stake in iShares U.S. Basic Materials ETF in the fourth quarter worth $202,000.

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.