Short Interest in iShares U.S. Basic Materials ETF (NYSEARCA:IYM) Expands By 208.3%

by · The Cerbat Gem

iShares U.S. Basic Materials ETF (NYSEARCA:IYM – Get Free Report) was the recipient of a large growth in short interest in the month of August. As of August 31st, there was short interest totaling 93,743 shares, a growth of 208.3% from the August 15th total of 30,403 shares. Approximately 1.4% of the company’s shares are sold short. Based on an average daily trading volume, of 72,620 shares, the days-to-cover ratio is presently 1.3 days.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in IYM. Compass Financial Management LLC acquired a new stake in iShares U.S. Basic Materials ETF during the 2nd quarter worth approximately $29,000. Turtle Creek Wealth Advisors LLC acquired a new position in shares of iShares U.S. Basic Materials ETF in the first quarter worth $36,000. Pin Oak Investment Advisors Inc. acquired a new position in shares of iShares U.S. Basic Materials ETF in the fourth quarter worth $38,000. Strive Financial Group LLC purchased a new stake in shares of iShares U.S. Basic Materials ETF during the fourth quarter worth $39,000. Finally, Ascentis Independent Advisors purchased a new stake in shares of iShares U.S. Basic Materials ETF during the first quarter worth $40,000.

iShares U.S. Basic Materials ETF Trading Up 0.3%

iShares U.S. Basic Materials ETF stock traded up $0.53 during midday trading on Friday, reaching $186.56. 875,452 shares of the stock traded hands, compared to its average volume of 220,604. The company has a 50-day simple moving average of $184.68 and a two-hundred day simple moving average of $182.46. iShares U.S. Basic Materials ETF has a 12-month low of $139.08 and a 12-month high of $197.36. The firm has a market cap of $1.24 billion, a PE ratio of 22.43 and a beta of 0.98.

About iShares U.S. Basic Materials ETF

(Get Free Report)

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.

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