iShares U.S. Pharmaceuticals ETF (NYSEARCA:IHE) Sets New 52-Week High – Time to Buy?

Shares of iShares U.S. Pharmaceuticals ETF (NYSEARCA:IHE) reached a new 52-week high during trading on Monday . The stock traded as high as $73.28 and last traded at $73.00, with a volume of 33521 shares changing hands. The stock had previously closed at $72.67.

iShares U.S. Pharmaceuticals ETF Trading Up 0.2 %

The stock has a market capitalization of $735.79 million, a P/E ratio of 6.49 and a beta of 0.58. The stock’s 50 day simple moving average is $68.44 and its 200 day simple moving average is $69.40.

Hedge Funds Weigh In On iShares U.S. Pharmaceuticals ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Captrust Financial Advisors increased its position in iShares U.S. Pharmaceuticals ETF by 3.5% during the fourth quarter. Captrust Financial Advisors now owns 5,025 shares of the company’s stock worth $330,000 after acquiring an additional 171 shares during the period. Assetmark Inc. increased its holdings in shares of iShares U.S. Pharmaceuticals ETF by 100.0% in the third quarter. Assetmark Inc. now owns 432 shares of the company’s stock valued at $31,000 after purchasing an additional 216 shares in the last quarter. US Bancorp DE boosted its stake in shares of iShares U.S. Pharmaceuticals ETF by 137.0% in the 3rd quarter. US Bancorp DE now owns 384 shares of the company’s stock valued at $27,000 after purchasing an additional 222 shares during the last quarter. Janney Montgomery Scott LLC raised its position in shares of iShares U.S. Pharmaceuticals ETF by 4.1% during the 4th quarter. Janney Montgomery Scott LLC now owns 6,699 shares of the company’s stock valued at $440,000 after acquiring an additional 261 shares during the last quarter. Finally, HighTower Advisors LLC raised its position in shares of iShares U.S. Pharmaceuticals ETF by 1.9% in the 4th quarter. HighTower Advisors LLC now owns 13,653 shares of the company’s stock valued at $897,000 after acquiring an additional 261 shares during the period.

iShares U.S. Pharmaceuticals ETF Company Profile

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.