iShares U.S. Medical Devices ETF (NYSEARCA:IHI) Sees Strong Trading Volume – Here’s What Happened

Shares of iShares U.S. Medical Devices ETF (NYSEARCA:IHI) saw unusually-high trading volume on Wednesday. Approximately 3,617,311 shares traded hands during mid-day trading, an increase of 40% from the previous session’s volume of 2,579,668 shares. The stock last traded at $53.1820 and had previously closed at $54.27.

iShares U.S. Medical Devices ETF Price Performance

The company has a 50 day simple moving average of $53.15 and a 200-day simple moving average of $51.85. The firm has a market cap of $3.68 billion, a PE ratio of 30.76 and a beta of 0.82.

Institutional Investors Weigh In On iShares U.S. Medical Devices ETF

Institutional investors have recently made changes to their positions in the business. Annex Advisory Services LLC purchased a new position in iShares U.S. Medical Devices ETF in the 2nd quarter worth approximately $33,602,000. Envestnet Asset Management Inc. raised its stake in iShares U.S. Medical Devices ETF by 0.6% in the second quarter. Envestnet Asset Management Inc. now owns 658,740 shares of the company’s stock worth $32,548,000 after buying an additional 4,089 shares in the last quarter. Hamilton Wealth LLC boosted its position in shares of iShares U.S. Medical Devices ETF by 222.7% during the first quarter. Hamilton Wealth LLC now owns 263,760 shares of the company’s stock valued at $14,072,000 after purchasing an additional 182,020 shares in the last quarter. Congress Asset Management Co. bought a new position in shares of iShares U.S. Medical Devices ETF in the 3rd quarter worth about $13,481,000. Finally, Baird Financial Group Inc. grew its holdings in iShares U.S. Medical Devices ETF by 39.2% in the second quarter. Baird Financial Group Inc. now owns 154,893 shares of the company’s stock worth $7,653,000 after purchasing an additional 43,629 shares during the period.

About iShares U.S. Medical Devices ETF

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.