iShares U.S. Pharmaceuticals ETF (NYSEARCA:IHE) Sees Unusually-High Trading Volume – Here’s What Happened

iShares U.S. Pharmaceuticals ETF (NYSEARCA:IHE) shares saw unusually-strong trading volume on Thursday . 289,496 shares changed hands during mid-day trading, an increase of 189% from the previous session’s volume of 100,329 shares.The stock last traded at $95.85 and had previously closed at $95.08.

iShares U.S. Pharmaceuticals ETF Trading Up 3.3%

The business’s fifty day moving average is $90.45 and its 200 day moving average is $88.18. The firm has a market capitalization of $1.07 billion, a P/E ratio of 17.75 and a beta of 0.50.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Foundations Investment Advisors LLC acquired a new stake in shares of iShares U.S. Pharmaceuticals ETF during the 4th quarter valued at $54,513,000. Bank of America Corp DE grew its holdings in shares of iShares U.S. Pharmaceuticals ETF by 2.8% in the 1st quarter. Bank of America Corp DE now owns 456,606 shares of the company’s stock worth $39,579,000 after acquiring an additional 12,565 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of iShares U.S. Pharmaceuticals ETF by 89.4% in the 4th quarter. JPMorgan Chase & Co. now owns 212,805 shares of the company’s stock worth $18,052,000 after acquiring an additional 100,426 shares during the last quarter. BNP Paribas Financial Markets acquired a new stake in shares of iShares U.S. Pharmaceuticals ETF during the second quarter worth $13,108,000. Finally, Royal Bank of Canada raised its position in shares of iShares U.S. Pharmaceuticals ETF by 51.9% during the fourth quarter. Royal Bank of Canada now owns 156,973 shares of the company’s stock worth $13,315,000 after purchasing an additional 53,661 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.