iShares U.S. Basic Materials ETF (NYSEARCA:IYM) Sees Unusually-High Trading Volume – Still a Buy?

Shares of iShares U.S. Basic Materials ETF (NYSEARCA:IYM) saw unusually-high trading volume on Wednesday . Approximately 984,311 shares traded hands during mid-day trading, an increase of 345% from the previous session’s volume of 221,238 shares.The stock last traded at $178.95 and had previously closed at $180.57.

iShares U.S. Basic Materials ETF Trading Down 1.1%

The stock has a market capitalization of $1.55 billion, a P/E ratio of 22.43 and a beta of 0.95. The company has a 50-day moving average price of $183.92 and a 200 day moving average price of $175.17.

Institutional Trading of iShares U.S. Basic Materials ETF

Several large investors have recently bought and sold shares of the stock. Western Wealth Management LLC purchased a new position in iShares U.S. Basic Materials ETF during the 1st quarter worth approximately $180,000. NewEdge Advisors LLC increased its stake in shares of iShares U.S. Basic Materials ETF by 58.4% in the first quarter. NewEdge Advisors LLC now owns 4,175 shares of the company’s stock worth $734,000 after acquiring an additional 1,539 shares during the period. Bank of America Corp DE raised its holdings in shares of iShares U.S. Basic Materials ETF by 176.5% during the first quarter. Bank of America Corp DE now owns 374,722 shares of the company’s stock worth $65,921,000 after purchasing an additional 239,188 shares during the last quarter. Arkadios Wealth Advisors raised its holdings in shares of iShares U.S. Basic Materials ETF by 22.4% during the first quarter. Arkadios Wealth Advisors now owns 2,873 shares of the company’s stock worth $505,000 after purchasing an additional 525 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in iShares U.S. Basic Materials ETF by 64.2% during the first quarter. The Manufacturers Life Insurance Company now owns 767,520 shares of the company’s stock valued at $135,022,000 after purchasing an additional 300,080 shares during the period.

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.