iShares U.S. Medical Devices ETF (NYSEARCA:IHI) Hits New 52-Week Low – Time to Sell?

iShares U.S. Medical Devices ETF (NYSEARCA:IHI) shares hit a new 52-week low during mid-day trading on Monday . The company traded as low as $49.94 and last traded at $49.94, with a volume of 1189243 shares trading hands. The stock had previously closed at $50.50.

iShares U.S. Medical Devices ETF Stock Down 0.2%

The stock has a market capitalization of $3.08 billion, a PE ratio of 30.76 and a beta of 0.86. The stock’s 50 day moving average price is $54.65 and its 200-day moving average price is $59.12.

Institutional Trading of iShares U.S. Medical Devices ETF

A number of large investors have recently made changes to their positions in the stock. Morgan Stanley boosted its stake in shares of iShares U.S. Medical Devices ETF by 14.4% during the fourth quarter. Morgan Stanley now owns 3,440,023 shares of the company’s stock valued at $213,798,000 after purchasing an additional 432,620 shares during the period. Bank of America Corp DE boosted its stake in shares of iShares U.S. Medical Devices ETF by 19.1% during the second quarter. Bank of America Corp DE now owns 1,934,996 shares of the company’s stock valued at $121,208,000 after purchasing an additional 310,962 shares during the period. Royal Bank of Canada raised its holdings in shares of iShares U.S. Medical Devices ETF by 2.3% in the fourth quarter. Royal Bank of Canada now owns 762,405 shares of the company’s stock valued at $47,383,000 after acquiring an additional 17,355 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its holdings in shares of iShares U.S. Medical Devices ETF by 1.0% in the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 698,129 shares of the company’s stock valued at $41,823,000 after acquiring an additional 7,200 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of iShares U.S. Medical Devices ETF by 83.4% in the third quarter. JPMorgan Chase & Co. now owns 490,874 shares of the company’s stock valued at $29,492,000 after acquiring an additional 223,216 shares in the last quarter.

iShares U.S. Medical Devices ETF Company Profile

The iShares U.S. Medical Devices ETF (IHI) is an exchange-traded fund that is based on the DJ US Select \u002F Medical Equipment index, a market-cap-weighted index of manufacturers and distributors of medical devices in the US. IHI was launched on May 1, 2006 and is managed by BlackRock.