iShares U.S. Medical Devices ETF (NYSEARCA:IHI) Sets New 12-Month High – Should You Buy?

Shares of iShares U.S. Medical Devices ETF (NYSEARCA:IHI) hit a new 52-week high during trading on Tuesday . The stock traded as high as $120.40 and last traded at $61.93, with a volume of 446833 shares changing hands. The stock had previously closed at $62.68.

iShares U.S. Medical Devices ETF Trading Down 1.0%

The business’s 50-day simple moving average is $61.73 and its two-hundred day simple moving average is $61.39. The firm has a market cap of $4.24 billion, a price-to-earnings ratio of 30.76 and a beta of 0.89.

Hedge Funds Weigh In On iShares U.S. Medical Devices ETF

Hedge funds have recently bought and sold shares of the company. Jones Financial Companies Lllp grew its holdings in iShares U.S. Medical Devices ETF by 295.5% during the 1st quarter. Jones Financial Companies Lllp now owns 416,572 shares of the company’s stock worth $24,774,000 after acquiring an additional 311,232 shares during the period. Bank of America Corp DE boosted its position in shares of iShares U.S. Medical Devices ETF by 19.1% during the 2nd quarter. Bank of America Corp DE now owns 1,934,996 shares of the company’s stock valued at $121,208,000 after purchasing an additional 310,962 shares in the last quarter. Nan Shan Life Insurance Co. Ltd. grew its stake in iShares U.S. Medical Devices ETF by 894.8% during the third quarter. Nan Shan Life Insurance Co. Ltd. now owns 248,710 shares of the company’s stock worth $14,942,000 after purchasing an additional 223,710 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of iShares U.S. Medical Devices ETF by 83.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 490,874 shares of the company’s stock worth $29,492,000 after buying an additional 223,216 shares in the last quarter. Finally, Two Sigma Investments LP acquired a new stake in shares of iShares U.S. Medical Devices ETF during the 3rd quarter worth approximately $12,401,000.

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.