iShares U.S. Pharmaceuticals ETF (NYSEARCA:IHE) Sees Strong Trading Volume – Should You Buy?

iShares U.S. Pharmaceuticals ETF (NYSEARCA:IHE) shares saw unusually-strong trading volume on Wednesday. Approximately 360,958 shares traded hands during trading, an increase of 118% from the previous session’s volume of 165,532 shares. The stock last traded at $99.7770 and had previously closed at $97.36.

iShares U.S. Pharmaceuticals ETF Stock Up 1.6%

The business has a fifty day moving average of $102.52 and a 200 day moving average of $96.57. The firm has a market cap of $1.57 billion, a P/E ratio of 17.75 and a beta of 0.47.

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

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE increased its stake in shares of iShares U.S. Pharmaceuticals ETF by 2.8% in the 1st quarter. Bank of America Corp DE now owns 456,606 shares of the company’s stock valued at $39,579,000 after acquiring an additional 12,565 shares during the last quarter. MinichMacGregor Wealth Management LLC acquired a new stake in shares of iShares U.S. Pharmaceuticals ETF in the 3rd quarter valued at approximately $32,098,000. Insight Wealth Strategies LLC raised its position in shares of iShares U.S. Pharmaceuticals ETF by 3.3% in the 2nd quarter. Insight Wealth Strategies LLC now owns 122,642 shares of the company’s stock valued at $12,055,000 after acquiring an additional 3,950 shares during the period. Cetera Investment Advisers boosted its stake in iShares U.S. Pharmaceuticals ETF by 675.4% during the 1st quarter. Cetera Investment Advisers now owns 109,471 shares of the company’s stock worth $9,489,000 after acquiring an additional 95,353 shares during the last quarter. Finally, AdvisorNet Financial Inc bought a new position in iShares U.S. Pharmaceuticals ETF during the 3rd quarter worth approximately $5,224,000.

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.