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

iShares U.S. Basic Materials ETF (NYSEARCA:IYM) shares saw unusually-strong trading volume on Wednesday . Approximately 66,837 shares were traded during trading, an increase of 213% from the previous session’s volume of 21,344 shares.The stock last traded at $136.46 and had previously closed at $136.41.

iShares U.S. Basic Materials ETF Stock Performance

The firm has a fifty day moving average price of $136.84 and a 200 day moving average price of $141.22. The stock has a market cap of $520.30 million, a PE ratio of 24.29 and a beta of 1.15.

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

Several hedge funds and other institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets purchased a new stake in iShares U.S. Basic Materials ETF in the third quarter valued at approximately $7,508,000. Tocqueville Asset Management L.P. purchased a new position in shares of iShares U.S. Basic Materials ETF during the 4th quarter valued at approximately $3,125,000. National Bank of Canada FI acquired a new position in shares of iShares U.S. Basic Materials ETF in the 4th quarter valued at $3,059,000. Focus Partners Wealth purchased a new stake in iShares U.S. Basic Materials ETF during the fourth quarter worth $2,167,000. Finally, Raymond James Financial Inc. acquired a new stake in iShares U.S. Basic Materials ETF during the fourth quarter valued at $2,091,000.

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.