iShares U.S. Pharmaceuticals ETF (NYSEARCA:IHE) Sets New 12-Month High – Here’s Why

iShares U.S. Pharmaceuticals ETF (NYSEARCA:IHE)’s stock price reached a new 52-week high on Wednesday. The stock traded as high as $110.79 and last traded at $110.73, with a volume of 208,462 shares trading hands. The stock had previously closed at $110.46.

iShares U.S. Pharmaceuticals ETF Price Performance

The company has a market capitalization of $1.72 billion, a price-to-earnings ratio of 17.75 and a beta of 0.47. The firm’s fifty day moving average price is $102.97 and its 200-day moving average price is $95.73.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Bogart Wealth LLC grew its stake in shares of iShares U.S. Pharmaceuticals ETF by 392.2% in the 3rd quarter. Bogart Wealth LLC now owns 251 shares of the company’s stock worth $25,000 after acquiring an additional 200 shares in the last quarter. Balance Wealth Partners LLC purchased a new position in shares of iShares U.S. Pharmaceuticals ETF in the third quarter worth about $42,000. Russell Investments Group Ltd. increased its stake in shares of iShares U.S. Pharmaceuticals ETF by 148.4% during the third quarter. Russell Investments Group Ltd. now owns 467 shares of the company’s stock valued at $47,000 after buying an additional 279 shares during the period. Root Financial Partners LLC bought a new stake in shares of iShares U.S. Pharmaceuticals ETF during the third quarter valued at approximately $51,000. Finally, Trust Co. of Vermont bought a new position in shares of iShares U.S. Pharmaceuticals ETF during the second quarter valued at approximately $60,000.

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.