iShares U.S. Basic Materials ETF (NYSEARCA:IYM) Sees Large Volume Increase – Time to Buy?

Shares of iShares U.S. Basic Materials ETF (NYSEARCA:IYM) saw unusually-strong trading volume on Wednesday . Approximately 1,250,515 shares were traded during trading, an increase of 507% from the previous session’s volume of 206,004 shares.The stock last traded at $172.30 and had previously closed at $168.67.

iShares U.S. Basic Materials ETF Trading Up 2.2%

The company has a market cap of $1.09 billion, a price-to-earnings ratio of 22.43 and a beta of 1.07. The firm has a 50-day moving average price of $177.19 and a 200 day moving average price of $159.30.

Hedge Funds Weigh In On iShares U.S. Basic Materials ETF

Hedge funds have recently added to or reduced their stakes in the business. Legacy Wealth Managment LLC ID acquired a new stake in shares of iShares U.S. Basic Materials ETF during the fourth quarter worth $36,000. Pin Oak Investment Advisors Inc. acquired a new position in shares of iShares U.S. Basic Materials ETF in the 4th quarter valued at about $38,000. Strive Financial Group LLC acquired a new position in shares of iShares U.S. Basic Materials ETF in the 4th quarter valued at about $39,000. United Financial Planning Group LLC bought a new stake in shares of iShares U.S. Basic Materials ETF during the 3rd quarter valued at about $41,000. Finally, Parkside Financial Bank & Trust bought a new stake in shares of iShares U.S. Basic Materials ETF during the 3rd quarter valued at about $52,000.

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.