iShares U.S. Medical Devices ETF (NYSEARCA:IHI) Hits New 52-Week Low – Here’s Why

iShares U.S. Medical Devices ETF (NYSEARCA:IHI) shares hit a new 52-week low on Monday . The stock traded as low as $48.57 and last traded at $48.66, with a volume of 185253 shares trading hands. The stock had previously closed at $49.01.

iShares U.S. Medical Devices ETF Stock Down 2.6%

The company has a market capitalization of $2.96 billion, a price-to-earnings ratio of 30.76 and a beta of 0.86. The company’s 50 day simple moving average is $54.46 and its two-hundred day simple moving average is $59.05.

Institutional Investors Weigh In On iShares U.S. Medical Devices ETF

Several institutional investors and hedge funds have recently made changes to their positions in IHI. Integrated Wealth Concepts LLC lifted its stake in shares of iShares U.S. Medical Devices ETF by 22.4% during the first quarter. Integrated Wealth Concepts LLC now owns 9,345 shares of the company’s stock worth $562,000 after buying an additional 1,710 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of iShares U.S. Medical Devices ETF by 46.7% during the first quarter. Goldman Sachs Group Inc. now owns 427,152 shares of the company’s stock worth $25,710,000 after buying an additional 135,927 shares during the period. Russell Investments Group Ltd. lifted its stake in shares of iShares U.S. Medical Devices ETF by 15.7% during the second quarter. Russell Investments Group Ltd. now owns 1,303 shares of the company’s stock worth $82,000 after buying an additional 177 shares during the period. Qube Research & Technologies Ltd lifted its stake in shares of iShares U.S. Medical Devices ETF by 16.2% during the second quarter. Qube Research & Technologies Ltd now owns 158,077 shares of the company’s stock worth $9,902,000 after buying an additional 22,052 shares during the period. Finally, Jane Street Group LLC lifted its stake in shares of iShares U.S. Medical Devices ETF by 188.6% during the second quarter. Jane Street Group LLC now owns 55,569 shares of the company’s stock worth $3,481,000 after buying an additional 36,312 shares during the period.

About iShares U.S. Medical Devices ETF

The iShares U.S. Medical Devices ETF (IHI) is an exchange-traded fund that is based on the DJ US Select \u002F Medical Equipment index, a market-cap-weighted index of manufacturers and distributors of medical devices in the US. IHI was launched on May 1, 2006 and is managed by BlackRock.