iShares U.S. Healthcare Providers ETF (NYSEARCA:IHF) Sets New 52-Week High – Still a Buy?

iShares U.S. Healthcare Providers ETF (NYSEARCA:IHF)’s share price hit a new 52-week high during mid-day trading on Tuesday. The company traded as high as $58.47 and last traded at $57.0230, with a volume of 40,880 shares changing hands. The stock had previously closed at $57.17.

iShares U.S. Healthcare Providers ETF Price Performance

The firm has a market capitalization of $1.39 billion, a PE ratio of 15.41 and a beta of 0.72. The company’s fifty day simple moving average is $56.55 and its 200 day simple moving average is $53.15.

Hedge Funds Weigh In On iShares U.S. Healthcare Providers ETF

Several large investors have recently modified their holdings of IHF. Sather Financial Group Inc grew its stake in iShares U.S. Healthcare Providers ETF by 11.9% in the 1st quarter. Sather Financial Group Inc now owns 1,017,415 shares of the company’s stock valued at $42,579,000 after buying an additional 108,457 shares in the last quarter. Royal Bank of Canada raised its holdings in iShares U.S. Healthcare Providers ETF by 15.8% during the 1st quarter. Royal Bank of Canada now owns 574,425 shares of the company’s stock valued at $24,040,000 after acquiring an additional 78,235 shares during the period. Element Pointe Advisors LLC raised its holdings in iShares U.S. Healthcare Providers ETF by 9.6% during the 1st quarter. Element Pointe Advisors LLC now owns 444,622 shares of the company’s stock valued at $18,607,000 after acquiring an additional 38,996 shares during the period. Bank of America Corp DE raised its holdings in iShares U.S. Healthcare Providers ETF by 9.2% during the 1st quarter. Bank of America Corp DE now owns 389,123 shares of the company’s stock valued at $16,285,000 after acquiring an additional 32,889 shares during the period. Finally, Tidal Investments LLC bought a new stake in iShares U.S. Healthcare Providers ETF during the 2nd quarter valued at $20,916,000.

About iShares U.S. Healthcare Providers ETF

The iShares U.S. Healthcare Providers ETF (IHF) is an exchange-traded fund that mostly invests in health care equity. The fund tracks a cap-weighted index of US companies that provide healthcare services. IHF was launched on May 1, 2006 and is managed by BlackRock.