iShares U.S. Basic Materials ETF (NYSEARCA:IYM) Sees Significant Growth in Short Interest

iShares U.S. Basic Materials ETF (NYSEARCA:IYM) was the recipient of a significant increase in short interest in January. As of January 15th, there was short interest totaling 107,066 shares, an increase of 119.0% from the December 31st total of 48,897 shares. Based on an average daily volume of 269,257 shares, the short-interest ratio is presently 0.4 days. Approximately 1.7% of the company’s stock are sold short. Approximately 1.7% of the company’s stock are sold short. Based on an average daily volume of 269,257 shares, the short-interest ratio is presently 0.4 days.

Institutional Trading of iShares U.S. Basic Materials ETF

A number of hedge funds have recently bought and sold shares of IYM. Jane Street Group LLC grew its position in iShares U.S. Basic Materials ETF by 266.1% during the 1st quarter. Jane Street Group LLC now owns 5,707 shares of the company’s stock worth $769,000 after acquiring an additional 4,148 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of iShares U.S. Basic Materials ETF by 5.4% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 3,818 shares of the company’s stock valued at $552,000 after purchasing an additional 196 shares during the period. Farther Finance Advisors LLC grew its holdings in shares of iShares U.S. Basic Materials ETF by 4,600.0% in the second quarter. Farther Finance Advisors LLC now owns 282 shares of the company’s stock worth $39,000 after purchasing an additional 276 shares during the last quarter. Ameritas Advisory Services LLC purchased a new position in shares of iShares U.S. Basic Materials ETF in the second quarter worth $144,000. Finally, Trueblood Wealth Management LLC bought a new stake in iShares U.S. Basic Materials ETF during the 2nd quarter valued at $201,000.

iShares U.S. Basic Materials ETF Price Performance

Shares of IYM opened at $170.29 on Friday. The stock has a 50-day moving average of $158.82 and a 200-day moving average of $150.64. The company has a market cap of $1.07 billion, a PE ratio of 22.43 and a beta of 1.07. iShares U.S. Basic Materials ETF has a one year low of $115.07 and a one year high of $179.47.

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.