National Bank of Canada FI Reduces Stake in iShares U.S. Basic Materials ETF (IYM)

The National Bank of Canada Financial Inc. has significantly cut back its investment in the iShares U.S. Basic Materials ETF (NYSEARCA:IYM), a recent filing with the Securities and Exchange Commission (SEC) revealed. This move, during the third quarter, saw the finance institution decrease its share ownership by 73.4%, leaving it with 375 shares following the sale of 1,033 shares in that period. At quarter’s end, the value of National Bank of Canada FI's stake in the ETF was estimated to be approximately $47,000.

Other Investors Adjust Holdings

Prudential Financial Inc., among other institutional investors, adjusted its position in the iShares U.S. Basic Materials ETF. In the first quarter, Prudential's holdings soared by 1,149.7%, reaching 284,949 shares valued at around $42.6 million after it bought an additional 262,147 shares. Furthermore, PGIM Custom Harvest LLC increased its ownership by 2.8% in the same quarter, acquiring 7,743 shares to bring its total to 284,323, worth roughly $37.7 million.

During the second quarter, Wells Fargo & Company MN expanded its position marginally by 0.7%, where it acquired an extra 1,334 shares, bringing its total stake to 202,871 shares valued at approximately $27 million. Goldman Sachs Group Inc. experienced a 36.5% hike in its shares during the first quarter, now owning 148,098 shares, which are worth about $22.1 million. Pinkerton Retirement Specialists LLC also made a notable increase by 138.8% during the second quarter, purchasing an additional 63,834 shares, which brought their holding to a total of 109,825 shares, with an estimated value of $14.6 million.

Performance of iShares U.S. Basic Materials ETF Stock

In recent trading, the ETF's stock opened at $138.16 but has seen a minor decrease of 0.5%. The stock has experienced a low of $119.22 and a high of $141.48 over fifty-two weeks. With a 50-day moving average of $129.68 and a 200-day moving average of $130.39, the ETF is positioned in the market with a capitalization of $822.05 million. It also holds a P/E ratio of 12.00 and a beta of 1.14.

About iShares U.S. Basic Materials ETF

The iShares U.S. Basic Materials ETF, which launched on June 12, 2000, is an exchange-traded fund primarily investing in U.S. basic materials companies. Managed by BlackRock, the ETF tracks a market-cap-weighted index of companies dealing with raw materials, including industries like metals, chemicals, and forestry products.

iShares, ETF, Investment