iShares U.S. Pharmaceuticals ETF (NYSEARCA:IHE) Hits New 12-Month High – Still a Buy?

iShares U.S. Pharmaceuticals ETF (NYSEARCA:IHE) shares reached a new 52-week high on Monday . The company traded as high as $90.80 and last traded at $89.8810, with a volume of 42181 shares trading hands. The stock had previously closed at $90.36.

iShares U.S. Pharmaceuticals ETF Price Performance

The company has a 50-day moving average of $85.61 and a 200 day moving average of $77.66. The company has a market cap of $1.00 billion, a PE ratio of 17.75 and a beta of 0.54.

Institutional Investors Weigh In On iShares U.S. Pharmaceuticals ETF

Several hedge funds have recently made changes to their positions in IHE. Truist Financial Corp grew its position in shares of iShares U.S. Pharmaceuticals ETF by 2.8% in the 2nd quarter. Truist Financial Corp now owns 9,104 shares of the company’s stock worth $593,000 after buying an additional 252 shares during the last quarter. Boothe Investment Group Inc. purchased a new stake in iShares U.S. Pharmaceuticals ETF during the second quarter worth $602,000. Kingswood Wealth Advisors LLC acquired a new stake in iShares U.S. Pharmaceuticals ETF in the second quarter valued at approximately $203,000. Harbor Asset Planning Inc. purchased a new stake in shares of iShares U.S. Pharmaceuticals ETF during the second quarter worth about $27,000. Finally, Arkansas Financial Group Inc. grew its holdings in shares of iShares U.S. Pharmaceuticals ETF by 3.2% during the third quarter. Arkansas Financial Group Inc. now owns 7,415 shares of the company’s stock worth $561,000 after buying an additional 230 shares in 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.