iShares U.S. Pharmaceuticals ETF (NYSEARCA:IHE) Hits New 1-Year High – Should You Buy?

iShares U.S. Pharmaceuticals ETF (NYSEARCA:IHE)’s stock price reached a new 52-week high during trading on Monday . The stock traded as high as $88.05 and last traded at $88.05, with a volume of 123895 shares changing hands. The stock had previously closed at $86.68.

iShares U.S. Pharmaceuticals ETF Price Performance

The stock has a 50 day simple moving average of $85.26 and a two-hundred day simple moving average of $76.92. The company has a market cap of $986.16 million, a price-to-earnings ratio of 17.75 and a beta of 0.54.

Institutional Trading of iShares U.S. Pharmaceuticals ETF

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. BNP Paribas Financial Markets acquired a new stake in shares of iShares U.S. Pharmaceuticals ETF during the 2nd quarter worth about $13,108,000. JPMorgan Chase & Co. lifted its stake in iShares U.S. Pharmaceuticals ETF by 1.3% during the third quarter. JPMorgan Chase & Co. now owns 112,379 shares of the company’s stock worth $8,154,000 after purchasing an additional 1,443 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in iShares U.S. Pharmaceuticals ETF by 4.8% during the first quarter. Goldman Sachs Group Inc. now owns 104,815 shares of the company’s stock worth $7,396,000 after purchasing an additional 4,815 shares in the last quarter. Royal Bank of Canada boosted its position in shares of iShares U.S. Pharmaceuticals ETF by 0.3% during the first quarter. Royal Bank of Canada now owns 101,984 shares of the company’s stock worth $7,197,000 after buying an additional 325 shares during the period. Finally, Accurate Wealth Management LLC acquired a new stake in shares of iShares U.S. Pharmaceuticals ETF in the fourth quarter valued at $6,372,000.

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.