iShares U.S. Pharmaceuticals ETF (NYSEARCA:IHE) Sets New 1-Year High – Time to Buy?

iShares U.S. Pharmaceuticals ETF (NYSEARCA:IHE) hit a new 52-week high during mid-day trading on Thursday. The stock traded as high as $109.84 and last traded at $110.3080, with a volume of 14,879 shares changing hands. The stock had previously closed at $109.09.

iShares U.S. Pharmaceuticals ETF Price Performance

The firm has a market cap of $1.62 billion, a PE ratio of 17.75 and a beta of 0.47. The business’s 50 day moving average price is $102.45 and its 200 day moving average price is $95.06.

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

Institutional investors have recently bought and sold shares of the company. Bank of America Corp DE lifted its position in shares of iShares U.S. Pharmaceuticals ETF by 2.8% in the first quarter. Bank of America Corp DE now owns 456,606 shares of the company’s stock valued at $39,579,000 after acquiring an additional 12,565 shares in the last quarter. MinichMacGregor Wealth Management LLC acquired a new stake in shares of iShares U.S. Pharmaceuticals ETF in the third quarter worth approximately $32,098,000. Insight Wealth Strategies LLC increased its position in shares of iShares U.S. Pharmaceuticals ETF by 3.3% during the second quarter. Insight Wealth Strategies LLC now owns 122,642 shares of the company’s stock worth $12,055,000 after purchasing an additional 3,950 shares in the last quarter. Cetera Investment Advisers increased its position in shares of iShares U.S. Pharmaceuticals ETF by 675.4% during the first quarter. Cetera Investment Advisers now owns 109,471 shares of the company’s stock worth $9,489,000 after purchasing an additional 95,353 shares in the last quarter. Finally, Virtue Capital Management LLC purchased a new stake in shares of iShares U.S. Pharmaceuticals ETF during the third quarter worth approximately $6,239,000.

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.