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

iShares U.S. Pharmaceuticals ETF (NYSEARCA:IHE) saw unusually-high trading volume on Tuesday . Approximately 49,089 shares traded hands during mid-day trading, a decline of 28% from the previous session’s volume of 68,584 shares.The stock last traded at $81.2270 and had previously closed at $81.08.

iShares U.S. Pharmaceuticals ETF Trading Up 1.1%

The stock’s 50 day moving average is $74.20 and its 200-day moving average is $69.53. The company has a market cap of $660.13 million, a P/E ratio of 17.75 and a beta of 0.54.

Institutional Investors Weigh In On iShares U.S. Pharmaceuticals ETF

Several institutional investors and hedge funds have recently made changes to their positions in the company. Harbor Asset Planning Inc. purchased a new position in shares of iShares U.S. Pharmaceuticals ETF in the second quarter worth $27,000. Mather Group LLC. bought a new stake in iShares U.S. Pharmaceuticals ETF during the third quarter valued at about $38,000. Ameriflex Group Inc. increased its holdings in iShares U.S. Pharmaceuticals ETF by 100.0% in the 3rd quarter. Ameriflex Group Inc. now owns 582 shares of the company’s stock worth $42,000 after acquiring an additional 291 shares in the last quarter. National Bank of Canada FI increased its stake in shares of iShares U.S. Pharmaceuticals ETF by 42.7% in the third quarter. National Bank of Canada FI now owns 585 shares of the company’s stock worth $42,000 after purchasing an additional 175 shares in the last quarter. Finally, CX Institutional raised its holdings in iShares U.S. Pharmaceuticals ETF by 2,665.5% during the third quarter. CX Institutional now owns 802 shares of the company’s stock valued at $58,000 after acquiring an additional 773 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.