iShares U.S. Pharmaceuticals ETF (NYSEARCA:IHE) Sets New 12-Month High – Should You Buy?

iShares U.S. Pharmaceuticals ETF (NYSEARCA:IHE)’s stock price reached a new 52-week high during trading on Wednesday . The company traded as high as $95.71 and last traded at $95.35, with a volume of 368115 shares trading hands. The stock had previously closed at $94.12.

iShares U.S. Pharmaceuticals ETF Stock Performance

The stock has a market cap of $1.04 billion, a PE ratio of 17.75 and a beta of 0.50. The firm has a fifty day moving average price of $90.21 and a 200 day moving average price of $88.11.

Hedge Funds Weigh In On iShares U.S. Pharmaceuticals ETF

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Foundations Investment Advisors LLC purchased a new stake in iShares U.S. Pharmaceuticals ETF during the 4th quarter worth approximately $54,513,000. Bank of America Corp DE raised its holdings in shares of iShares U.S. Pharmaceuticals ETF by 2.8% in the first quarter. Bank of America Corp DE now owns 456,606 shares of the company’s stock worth $39,579,000 after buying an additional 12,565 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of iShares U.S. Pharmaceuticals ETF by 89.4% in the fourth quarter. JPMorgan Chase & Co. now owns 212,805 shares of the company’s stock worth $18,052,000 after buying an additional 100,426 shares during the last quarter. BNP Paribas Financial Markets acquired a new stake in shares of iShares U.S. Pharmaceuticals ETF during the second quarter worth $13,108,000. Finally, Royal Bank of Canada grew its holdings in shares of iShares U.S. Pharmaceuticals ETF by 51.9% during the fourth quarter. Royal Bank of Canada now owns 156,973 shares of the company’s stock valued at $13,315,000 after buying an additional 53,661 shares during the last quarter.

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.