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

Shares of iShares U.S. Pharmaceuticals ETF (NYSEARCA:IHE) saw strong trading volume on Thursday . 563,686 shares traded hands during trading, an increase of 506% from the previous session’s volume of 92,951 shares.The stock last traded at $86.83 and had previously closed at $87.68.

iShares U.S. Pharmaceuticals ETF Trading Down 1.1%

The stock has a fifty day simple moving average of $88.09 and a 200-day simple moving average of $82.61. The stock has a market cap of $971.04 million, a price-to-earnings ratio of 17.75 and a beta of 0.54.

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

Institutional investors and hedge funds have recently bought and sold shares of the stock. Foundations Investment Advisors LLC acquired a new stake in iShares U.S. Pharmaceuticals ETF in the 4th quarter worth $54,513,000. JPMorgan Chase & Co. grew its position in iShares U.S. Pharmaceuticals ETF by 89.4% during the fourth quarter. JPMorgan Chase & Co. now owns 212,805 shares of the company’s stock worth $18,052,000 after buying an additional 100,426 shares in the last quarter. BNP Paribas Financial Markets bought a new position in iShares U.S. Pharmaceuticals ETF during the second quarter valued at about $13,108,000. Royal Bank of Canada raised its holdings in iShares U.S. Pharmaceuticals ETF by 51.9% in the 4th quarter. Royal Bank of Canada now owns 156,973 shares of the company’s stock valued at $13,315,000 after acquiring an additional 53,661 shares in the last quarter. Finally, LPL Financial LLC raised its holdings in iShares U.S. Pharmaceuticals ETF by 21.3% in the 4th quarter. LPL Financial LLC now owns 137,747 shares of the company’s stock valued at $11,685,000 after acquiring an additional 24,214 shares in the last quarter.

iShares U.S. Pharmaceuticals ETF Company Profile

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.