iShares U.S. Pharmaceuticals ETF (NYSEARCA:IHE) Hits New 52-Week Low – Here’s What Happened

iShares U.S. Pharmaceuticals ETF (NYSEARCA:IHE)’s stock price reached a new 52-week low on Monday . The stock traded as low as $60.12 and last traded at $61.71, with a volume of 104451 shares traded. The stock had previously closed at $63.43.

iShares U.S. Pharmaceuticals ETF Stock Performance

The stock’s 50 day simple moving average is $69.48 and its 200-day simple moving average is $68.81. The firm has a market cap of $579.58 million, a price-to-earnings ratio of 21.53 and a beta of 0.63.

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

A number of large investors have recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its stake in iShares U.S. Pharmaceuticals ETF by 2,176.8% during the 4th quarter. JPMorgan Chase & Co. now owns 188,567 shares of the company’s stock valued at $12,393,000 after acquiring an additional 180,285 shares during the period. Raymond James Financial Inc. purchased a new position in shares of iShares U.S. Pharmaceuticals ETF during the fourth quarter worth $4,472,000. Two Sigma Investments LP acquired a new position in iShares U.S. Pharmaceuticals ETF during the fourth quarter valued at $4,430,000. Pallas Capital Advisors LLC purchased a new stake in iShares U.S. Pharmaceuticals ETF in the fourth quarter valued at $3,829,000. Finally, Commonwealth Equity Services LLC grew its position in iShares U.S. Pharmaceuticals ETF by 5.5% during the 4th quarter. Commonwealth Equity Services LLC now owns 40,248 shares of the company’s stock worth $2,645,000 after purchasing an additional 2,106 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.