iShares U.S. Pharmaceuticals ETF (NYSEARCA:IHE) Reaches New 1-Year High – Should You Buy?

Shares of iShares U.S. Pharmaceuticals ETF (NYSEARCA:IHE) reached a new 52-week high during trading on Wednesday . The stock traded as high as $87.07 and last traded at $87.07, with a volume of 75284 shares changing hands. The stock had previously closed at $86.03.

iShares U.S. Pharmaceuticals ETF Stock Down 0.4%

The firm has a 50-day moving average of $84.10 and a two-hundred day moving average of $75.41. The company has a market capitalization of $955.33 million, a PE ratio of 17.75 and a beta of 0.54.

Institutional Trading of iShares U.S. Pharmaceuticals ETF

A number of hedge funds and other institutional investors have recently modified their holdings of the business. BNP Paribas Financial Markets acquired a new stake in shares of iShares U.S. Pharmaceuticals ETF during the second quarter valued at about $13,108,000. JPMorgan Chase & Co. lifted its holdings in shares of iShares U.S. Pharmaceuticals ETF by 1.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 112,379 shares of the company’s stock worth $8,154,000 after acquiring an additional 1,443 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of iShares U.S. Pharmaceuticals ETF by 4.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 104,815 shares of the company’s stock worth $7,396,000 after purchasing an additional 4,815 shares during the period. Royal Bank of Canada boosted its position in shares of iShares U.S. Pharmaceuticals ETF by 0.3% during the 1st quarter. Royal Bank of Canada now owns 101,984 shares of the company’s stock worth $7,197,000 after purchasing an additional 325 shares during the period. Finally, Accurate Wealth Management LLC acquired a new stake in iShares U.S. Pharmaceuticals ETF in the 4th quarter valued at approximately $6,372,000.

About iShares U.S. Pharmaceuticals ETF

iShares U.S. Pharmaceuticals ETF, formerly iShares Dow Jones U.S. Pharmaceuticals Index Fund (the Fund), is an exchange traded fund. The Fund seeks investment results that correspond generally to the price and yield performance of the Dow Jones U.S. Select Pharmaceuticals Index (the Index). The Index measures the performance of the pharmaceuticals sector of the United States equity market, and includes pharmaceutical companies such as manufacturers of prescription or over-the-counter drugs or vaccines, but excludes producers of vitamins.