Your library will get aggregate data from the publishers along the lines of "in this month, 473 user sessions read 621 papers on the service". (The standard for this is COUNTER, and I assume IEEE use it). They won't be told "at 5.11 am on Sunday 20th, Steve downloaded..."
However, that data does exist, somewhere. If you are going through your university network there are situations in which it could in theory be identified from their logs, in much the same way that they could tell you then read a news story and finished for the day. The same is true for your home internet connection, but the widespread use of secure HTTPS connections make this level of detailed visibility less common than it used to be.
If you are signing in through Shibboleth authentication or similar, the university will know that you were authenticated for that provider at a particular time, but may not exactly know what items you read. (I would have to dig into the mechanism to be confident either way here). The publisher will also have a log of what you read, and that you were an authenticated user from X, but probably not precisely who you are.
It is vanishingly unlikely (and probably, in many jurisdictions, illegal) for this information to be used other than for things like troubleshooting and tracing abuse, however. So no-one is going to get sent a file of 'here's everything the department read this week, we highlighted Steve'.
But if there are problems, someone might well get an email that says 'user STEVE logged in from a weird looking Moldovan IP and downloaded 5000 papers in ten minutes last night, so the system then shut the account out, you should probably look into this before we reenable it'.