iShares U.S. Basic Materials ETF (NYSEARCA:IYM) Stock Short Interest Falls 65.7%

iShares U.S. Basic Materials ETF (NYSEARCA:IYM) was the recipient of a significant decrease in short interest in the month of September. As of September 30th, there was short interest totaling 28,483 shares, a decrease of 65.7% from the September 15th total of 82,938 shares. Based on an average daily trading volume, of 185,498 shares, the short-interest ratio is presently 0.2 days. Approximately 0.4% of the company’s stock are short sold.

iShares U.S. Basic Materials ETF Trading Up 0.2%

NYSEARCA:IYM traded up $0.33 during mid-day trading on Monday, hitting $182.11. The stock had a trading volume of 48,450 shares, compared to its average volume of 220,107. iShares U.S. Basic Materials ETF has a twelve month low of $139.08 and a twelve month high of $197.36. The stock has a 50-day simple moving average of $186.45 and a two-hundred day simple moving average of $182.95. The company has a market capitalization of $1.37 billion, a PE ratio of 22.43 and a beta of 0.98.

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

A number of hedge funds and other institutional investors have recently modified their holdings of IYM. The Manufacturers Life Insurance Company lifted its position in shares of iShares U.S. Basic Materials ETF by 64.2% during the 1st quarter. The Manufacturers Life Insurance Company now owns 767,520 shares of the company’s stock worth $135,022,000 after buying an additional 300,080 shares during the last quarter. Bank of America Corp DE raised its stake in iShares U.S. Basic Materials ETF by 176.5% during the 1st quarter. Bank of America Corp DE now owns 374,722 shares of the company’s stock worth $65,921,000 after acquiring an additional 239,188 shares in the last quarter. Principal Financial Group Inc. acquired a new stake in iShares U.S. Basic Materials ETF during the 1st quarter worth $10,112,000. WealthCare Asset Management LLC purchased a new stake in iShares U.S. Basic Materials ETF in the first quarter valued at $8,780,000. Finally, Bank of Nova Scotia lifted its position in iShares U.S. Basic Materials ETF by 191.8% in the first quarter. Bank of Nova Scotia now owns 74,110 shares of the company’s stock valued at $13,037,000 after acquiring an additional 48,710 shares during the last quarter.

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.