Redstone Wealth Management LLC Makes New $8.85 Million Investment in iShares U.S. Medical Devices ETF $IHI

Redstone Wealth Management LLC bought a new position in shares of iShares U.S. Medical Devices ETF (NYSEARCA:IHI) during the fourth quarter, HoldingsChannel.com reports. The firm bought 142,349 shares of the company’s stock, valued at approximately $8,847,000. iShares U.S. Medical Devices ETF comprises 7.0% of Redstone Wealth Management LLC’s portfolio, making the stock its 6th biggest position.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp raised its stake in iShares U.S. Medical Devices ETF by 8.1% during the 3rd quarter. Jones Financial Companies Lllp now owns 177,528 shares of the company’s stock worth $10,595,000 after acquiring an additional 13,363 shares during the period. High Point Wealth Management LLC bought a new stake in iShares U.S. Medical Devices ETF during the 4th quarter worth approximately $1,950,000. Sava Penzisko Drushtvo A.D. Skopje bought a new stake in iShares U.S. Medical Devices ETF during the 3rd quarter worth approximately $8,720,000. Trivium Point Advisory LLC raised its stake in iShares U.S. Medical Devices ETF by 344.0% during the 3rd quarter. Trivium Point Advisory LLC now owns 17,467 shares of the company’s stock worth $1,049,000 after acquiring an additional 13,533 shares during the period. Finally, Belpointe Asset Management LLC raised its stake in iShares U.S. Medical Devices ETF by 134.6% during the 3rd quarter. Belpointe Asset Management LLC now owns 20,643 shares of the company’s stock worth $1,240,000 after acquiring an additional 11,843 shares during the period.

iShares U.S. Medical Devices ETF Stock Performance

NYSEARCA IHI opened at $50.57 on Monday. iShares U.S. Medical Devices ETF has a 12 month low of $47.37 and a 12 month high of $64.71. The stock has a market cap of $3.13 billion, a price-to-earnings ratio of 30.76 and a beta of 0.86. The company’s 50 day moving average is $52.47 and its two-hundred day moving average is $58.12.

iShares U.S. Medical Devices ETF Profile

The iShares U.S. Medical Devices ETF (IHI) is an exchange-traded fund that is based on the DJ US Select \u002F Medical Equipment index, a market-cap-weighted index of manufacturers and distributors of medical devices in the US. IHI was launched on May 1, 2006 and is managed by BlackRock.