iShares U.S. Pharmaceuticals ETF (NYSEARCA:IHE) Hits New 52-Week High – Still a Buy?

iShares U.S. Pharmaceuticals ETF (NYSEARCA:IHEGet Free Report)’s share price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $83.97 and last traded at $83.8010, with a volume of 21045 shares. The stock had previously closed at $82.88.

iShares U.S. Pharmaceuticals ETF Price Performance

The company has a fifty day simple moving average of $75.65 and a 200-day simple moving average of $70.29. The company has a market cap of $691.66 million, a P/E ratio of 17.75 and a beta of 0.54.

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

Hedge funds and other institutional investors have recently modified their holdings of the stock. IFP Advisors Inc raised its stake in iShares U.S. Pharmaceuticals ETF by 231.2% during the 1st quarter. IFP Advisors Inc now owns 944 shares of the company’s stock valued at $67,000 after purchasing an additional 659 shares during the period. LPL Financial LLC grew its holdings in shares of iShares U.S. Pharmaceuticals ETF by 47.6% during the first quarter. LPL Financial LLC now owns 119,866 shares of the company’s stock valued at $8,458,000 after buying an additional 38,678 shares in the last quarter. PNC Financial Services Group Inc. raised its position in iShares U.S. Pharmaceuticals ETF by 20.3% during the first quarter. PNC Financial Services Group Inc. now owns 1,281 shares of the company’s stock valued at $90,000 after buying an additional 216 shares during the period. Liberty Wealth Management LLC purchased a new stake in iShares U.S. Pharmaceuticals ETF in the 1st quarter worth about $848,000. Finally, Cookson Peirce & Co. Inc. acquired a new stake in iShares U.S. Pharmaceuticals ETF during the 1st quarter worth about $214,000.

iShares U.S. Pharmaceuticals ETF Company Profile

(Get Free Report)

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.

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