iShares U.S. Basic Materials ETF (NYSEARCA:IYM) Reaches New 1-Year Low – Here’s What Happened

iShares U.S. Basic Materials ETF (NYSEARCA:IYM)’s share price reached a new 52-week low during trading on Monday . The company traded as low as $128.82 and last traded at $128.82, with a volume of 4651 shares changing hands. The stock had previously closed at $130.77.

iShares U.S. Basic Materials ETF Stock Performance

The firm has a market capitalization of $593.72 million, a price-to-earnings ratio of 13.76 and a beta of 0.87. The company has a 50 day moving average price of $143.27 and a two-hundred day moving average price of $143.52.

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

A number of large investors have recently added to or reduced their stakes in IYM. The Manufacturers Life Insurance Company acquired a new stake in shares of iShares U.S. Basic Materials ETF in the second quarter worth approximately $43,121,000. BNP Paribas Financial Markets acquired a new stake in iShares U.S. Basic Materials ETF during the 3rd quarter worth $7,508,000. NewEdge Advisors LLC grew its holdings in shares of iShares U.S. Basic Materials ETF by 1,626.1% during the second quarter. NewEdge Advisors LLC now owns 14,413 shares of the company’s stock worth $2,018,000 after buying an additional 13,578 shares in the last quarter. Sachetta LLC raised its position in shares of iShares U.S. Basic Materials ETF by 22.5% in the second quarter. Sachetta LLC now owns 42,736 shares of the company’s stock valued at $6,105,000 after buying an additional 7,838 shares during the last quarter. Finally, Sanctuary Advisors LLC purchased a new position in shares of iShares U.S. Basic Materials ETF in the second quarter worth about $746,000.

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.