iShares U.S. Pharmaceuticals ETF (NYSEARCA:IHE) Sets New 12-Month High – Time to Buy?

Shares of iShares U.S. Pharmaceuticals ETF (NYSEARCA:IHE) hit a new 52-week high during trading on Monday . The company traded as high as $83.97 and last traded at $83.8010, with a volume of 21045 shares traded. The stock had previously closed at $82.88.

iShares U.S. Pharmaceuticals ETF Price Performance

The stock’s 50-day moving average price is $75.06 and its 200 day moving average price is $69.99. The firm has a market capitalization of $676.90 million, a PE ratio of 17.75 and a beta of 0.54.

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

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