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

iShares U.S. Pharmaceuticals ETF (NYSEARCA:IHE)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $91.64 and last traded at $91.66, with a volume of 4062 shares. The stock had previously closed at $91.07.

iShares U.S. Pharmaceuticals ETF Stock Down 0.7%

The business has a 50-day moving average price of $87.34 and a two-hundred day moving average price of $79.69. The company has a market capitalization of $1.02 billion, a price-to-earnings ratio of 17.75 and a beta of 0.54.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in IHE. Foundations Investment Advisors LLC acquired a new stake in shares of iShares U.S. Pharmaceuticals ETF in the 4th quarter worth about $54,513,000. BNP Paribas Financial Markets purchased a new stake in shares of iShares U.S. Pharmaceuticals ETF in the second quarter worth approximately $13,108,000. Anfield Capital Management LLC purchased a new stake in shares of iShares U.S. Pharmaceuticals ETF in the fourth quarter worth approximately $10,007,000. JPMorgan Chase & Co. lifted 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 valued at $18,052,000 after purchasing an additional 100,426 shares in the last quarter. Finally, Accurate Wealth Management LLC bought a new position in shares of iShares U.S. Pharmaceuticals ETF in the fourth quarter valued at approximately $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.