iShares U.S. Basic Materials ETF (NYSEARCA:IYM) Short Interest Update

iShares U.S. Basic Materials ETF (NYSEARCA:IYM) was the recipient of a large growth in short interest in March. As of March 31st, there was short interest totaling 187,596 shares, a growth of 351.2% from the March 15th total of 41,577 shares. Currently, 2.4% of the company’s shares are sold short. Based on an average daily trading volume, of 462,024 shares, the short-interest ratio is presently 0.4 days.

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

A number of institutional investors have recently modified their holdings of IYM. The Manufacturers Life Insurance Company acquired a new position in shares of iShares U.S. Basic Materials ETF during the fourth quarter worth approximately $71,967,000. Northwestern Mutual Wealth Management Co. raised its position in shares of iShares U.S. Basic Materials ETF by 129.7% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 155,343 shares of the company’s stock worth $23,917,000 after purchasing an additional 87,723 shares during the period. Three Seasons Wealth LLC acquired a new position in shares of iShares U.S. Basic Materials ETF during the fourth quarter worth approximately $5,125,000. Tcfg Wealth Management LLC acquired a new position in shares of iShares U.S. Basic Materials ETF during the third quarter worth approximately $4,901,000. Finally, Corient Private Wealth LLC acquired a new position in shares of iShares U.S. Basic Materials ETF during the fourth quarter worth approximately $3,709,000.

iShares U.S. Basic Materials ETF Stock Performance

iShares U.S. Basic Materials ETF stock opened at $185.46 on Monday. The stock has a market capitalization of $1.47 billion, a price-to-earnings ratio of 22.43 and a beta of 1.01. iShares U.S. Basic Materials ETF has a 52-week low of $122.95 and a 52-week high of $189.80. The stock’s 50 day moving average price is $178.45 and its two-hundred day moving average price is $161.94.

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.