iShares U.S. Pharmaceuticals ETF (NYSEARCA:IHE) Shares Gap Up – Should You Buy?

Shares of iShares U.S. Pharmaceuticals ETF (NYSEARCA:IHE) gapped up before the market opened on Thursday . The stock had previously closed at $61.95, but opened at $63.99. iShares U.S. Pharmaceuticals ETF shares last traded at $64.65, with a volume of 12,283 shares traded.

iShares U.S. Pharmaceuticals ETF Price Performance

The business’s 50 day moving average is $68.71 and its 200-day moving average is $68.53. The company has a market cap of $592.56 million, a PE ratio of 21.53 and a beta of 0.63.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in IHE. JPMorgan Chase & Co. increased its holdings in shares of iShares U.S. Pharmaceuticals ETF by 2,176.8% in the fourth quarter. JPMorgan Chase & Co. now owns 188,567 shares of the company’s stock valued at $12,393,000 after purchasing an additional 180,285 shares during the period. Raymond James Financial Inc. purchased a new position in iShares U.S. Pharmaceuticals ETF during the fourth quarter worth about $4,472,000. Two Sigma Investments LP purchased a new position in shares of iShares U.S. Pharmaceuticals ETF during the 4th quarter worth approximately $4,430,000. Pallas Capital Advisors LLC acquired a new stake in iShares U.S. Pharmaceuticals ETF in the fourth quarter valued at $3,829,000. Finally, Commonwealth Equity Services LLC lifted its stake in shares of iShares U.S. Pharmaceuticals ETF by 5.5% in the fourth quarter. Commonwealth Equity Services LLC now owns 40,248 shares of the company’s stock valued at $2,645,000 after purchasing an additional 2,106 shares during the period.

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.