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

iShares U.S. Basic Materials ETF (NYSEARCA:IYM) was the recipient of a significant decrease in short interest in the month of June. As of June 30th, there was short interest totaling 71,183 shares, a decrease of 83.6% from the June 15th total of 435,177 shares. Currently, 1.0% of the shares of the stock are sold short. Based on an average daily volume of 221,460 shares, the days-to-cover ratio is currently 0.3 days.

Institutional Trading of iShares U.S. Basic Materials ETF

A number of large investors have recently modified their holdings of IYM. Legacy Wealth Managment LLC ID bought a new position in shares of iShares U.S. Basic Materials ETF in the fourth quarter worth approximately $36,000. Turtle Creek Wealth Advisors LLC bought a new stake in iShares U.S. Basic Materials ETF during the first quarter valued at approximately $36,000. Pin Oak Investment Advisors Inc. purchased a new position in iShares U.S. Basic Materials ETF in the 4th quarter worth approximately $38,000. Strive Financial Group LLC purchased a new position in iShares U.S. Basic Materials ETF in the 4th quarter worth approximately $39,000. Finally, Ascentis Independent Advisors bought a new position in shares of iShares U.S. Basic Materials ETF in the 1st quarter worth $40,000.

iShares U.S. Basic Materials ETF Stock Down 0.8%

NYSEARCA:IYM traded down $1.48 during trading hours on Monday, hitting $176.76. 142,403 shares of the company’s stock traded hands, compared to its average volume of 233,348. The firm has a market cap of $1.21 billion, a P/E ratio of 22.43 and a beta of 0.96. iShares U.S. Basic Materials ETF has a 52 week low of $138.03 and a 52 week high of $191.37. The business’s fifty day simple moving average is $182.86 and its two-hundred day simple moving average is $177.79.

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.