Short Interest in iShares U.S. Basic Materials ETF (NYSEARCA:IYM) Declines By 83.6%

by · The Markets Daily

iShares U.S. Basic Materials ETF (NYSEARCA:IYM – Get Free Report) was the recipient of a significant decline in short interest during the month of June. As of June 30th, there was short interest totaling 71,183 shares, a decline of 83.6% from the June 15th total of 435,177 shares. Based on an average trading volume of 221,460 shares, the short-interest ratio is currently 0.3 days. Currently, 1.0% of the shares of the stock are short sold.

iShares U.S. Basic Materials ETF Stock Up 0.7%

Shares of IYM stock traded up $1.23 on Friday, reaching $178.24. The company had a trading volume of 173,118 shares, compared to its average volume of 234,048. The business’s 50-day moving average is $182.86 and its 200 day moving average is $177.64. iShares U.S. Basic Materials ETF has a one year low of $138.03 and a one year high of $191.37. The stock has a market capitalization of $1.22 billion, a PE ratio of 22.43 and a beta of 0.96.

Institutional Trading of iShares U.S. Basic Materials ETF

A number of hedge funds have recently added to or reduced their stakes in IYM. Turtle Creek Wealth Advisors LLC bought a new stake in shares of iShares U.S. Basic Materials ETF during the first quarter worth $36,000. Ascentis Independent Advisors acquired a new stake in shares of iShares U.S. Basic Materials ETF during the 1st quarter valued at $40,000. Legacy Wealth Managment LLC ID bought a new stake in iShares U.S. Basic Materials ETF during the 4th quarter worth $36,000. Angeles Wealth Management LLC bought a new stake in iShares U.S. Basic Materials ETF during the 1st quarter worth $41,000. Finally, Pin Oak Investment Advisors Inc. acquired a new position in iShares U.S. Basic Materials ETF in the 4th quarter worth about $38,000.

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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