iShares U.S. Basic Materials ETF (NYSEARCA:IYM) Hits New 52-Week Low – Should You Sell?

iShares U.S. Basic Materials ETF (NYSEARCA:IYM) shares reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $129.71 and last traded at $130.35, with a volume of 1334 shares changing hands. The stock had previously closed at $129.84.

iShares U.S. Basic Materials ETF Stock Performance

The stock has a market capitalization of $603.43 million, a price-to-earnings ratio of 13.76 and a beta of 0.87. The business has a fifty day simple moving average of $145.33 and a 200 day simple moving average of $143.91.

Institutional Investors Weigh In On iShares U.S. Basic Materials ETF

Large investors have recently added to or reduced their stakes in the stock. Wilmington Savings Fund Society FSB acquired a new stake in shares of iShares U.S. Basic Materials ETF during the 3rd quarter worth approximately $26,000. Fairfield Financial Advisors LTD acquired a new stake in shares of iShares U.S. Basic Materials ETF in the 2nd quarter valued at $45,000. Reston Wealth Management LLC bought a new position in shares of iShares U.S. Basic Materials ETF in the 3rd quarter valued at $50,000. Truvestments Capital LLC acquired a new position in shares of iShares U.S. Basic Materials ETF during the 3rd quarter worth $71,000. Finally, CWM LLC lifted its position in shares of iShares U.S. Basic Materials ETF by 15.3% during the 3rd quarter. CWM LLC now owns 724 shares of the company’s stock worth $109,000 after buying an additional 96 shares during the last quarter.

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.