iShares U.S. Basic Materials ETF (NYSEARCA:IYM) Reaches New 12-Month High – What’s Next?

iShares U.S. Basic Materials ETF (NYSEARCA:IYM) shares reached a new 52-week high on Wednesday . The stock traded as high as $187.61 and last traded at $187.09, with a volume of 513263 shares trading hands. The stock had previously closed at $185.25.

iShares U.S. Basic Materials ETF Stock Up 1.0%

The firm has a market cap of $1.18 billion, a P/E ratio of 22.43 and a beta of 1.07. The stock’s 50-day moving average is $169.61 and its 200-day moving average is $155.08.

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

Hedge funds have recently made changes to their positions in the stock. Jane Street Group LLC grew its position in iShares U.S. Basic Materials ETF by 266.1% during the first quarter. Jane Street Group LLC now owns 5,707 shares of the company’s stock worth $769,000 after buying an additional 4,148 shares in the last quarter. Bank of Montreal Can lifted its position in shares of iShares U.S. Basic Materials ETF by 11.6% in the 2nd quarter. Bank of Montreal Can now owns 7,826 shares of the company’s stock worth $1,096,000 after acquiring an additional 815 shares during the period. Simplex Trading LLC lifted its position in shares of iShares U.S. Basic Materials ETF by 442.0% in the 2nd quarter. Simplex Trading LLC now owns 271 shares of the company’s stock worth $37,000 after acquiring an additional 221 shares during the period. AE Wealth Management LLC grew its holdings in shares of iShares U.S. Basic Materials ETF by 9.2% during the 2nd quarter. AE Wealth Management LLC now owns 15,740 shares of the company’s stock worth $2,204,000 after purchasing an additional 1,328 shares in the last quarter. Finally, Cetera Investment Advisers increased 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 valued at $2,337,000 after purchasing 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.