iShares U.S. Basic Materials ETF (NYSEARCA:IYM) Sees Strong Trading Volume – Still a Buy?

Shares of iShares U.S. Basic Materials ETF (NYSEARCA:IYM) saw unusually-strong trading volume on Thursday . Approximately 50,564 shares were traded during mid-day trading, an increase of 133% from the previous session’s volume of 21,744 shares.The stock last traded at $130.95 and had previously closed at $131.23.

iShares U.S. Basic Materials ETF Stock Performance

The stock has a 50 day moving average price of $146.12 and a 200 day moving average price of $144.10. The company has a market capitalization of $599.43 million, a P/E ratio of 13.76 and a beta of 0.87.

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

Institutional investors and hedge funds have recently bought and sold shares of the company. Wilmington Savings Fund Society FSB bought a new position in shares of iShares U.S. Basic Materials ETF during the 3rd quarter worth $26,000. Fairfield Financial Advisors LTD bought a new position in iShares U.S. Basic Materials ETF during the second quarter worth about $45,000. Reston Wealth Management LLC purchased a new position in shares of iShares U.S. Basic Materials ETF in the third quarter worth about $50,000. Truvestments Capital LLC bought a new stake in shares of iShares U.S. Basic Materials ETF in the third quarter valued at approximately $71,000. Finally, CWM LLC lifted its stake in shares of iShares U.S. Basic Materials ETF by 15.3% during the 3rd quarter. CWM LLC now owns 724 shares of the company’s stock valued at $109,000 after buying an additional 96 shares in 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.