iShares U.S. Pharmaceuticals ETF (NYSEARCA:IHE) Hits New 1-Year High – Still a Buy?

iShares U.S. Pharmaceuticals ETF (NYSEARCA:IHE) shares hit a new 52-week high during trading on Monday . The stock traded as high as $77.23 and last traded at $77.1810, with a volume of 6672 shares traded. The stock had previously closed at $75.80.

iShares U.S. Pharmaceuticals ETF Stock Performance

The firm has a fifty day moving average price of $73.17 and a 200 day moving average price of $68.98. The company has a market cap of $620.00 million, a price-to-earnings ratio of 17.75 and a beta of 0.54.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. BNP Paribas Financial Markets bought a new position in shares of iShares U.S. Pharmaceuticals ETF during the 2nd quarter valued at about $13,108,000. LPL Financial LLC increased its stake in iShares U.S. Pharmaceuticals ETF by 47.6% in the 1st quarter. LPL Financial LLC now owns 119,866 shares of the company’s stock worth $8,458,000 after acquiring an additional 38,678 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of iShares U.S. Pharmaceuticals ETF by 1.3% in the third quarter. JPMorgan Chase & Co. now owns 112,379 shares of the company’s stock valued at $8,154,000 after acquiring an additional 1,443 shares during the period. Goldman Sachs Group Inc. grew its stake in iShares U.S. Pharmaceuticals ETF by 4.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 104,815 shares of the company’s stock worth $7,396,000 after acquiring an additional 4,815 shares in the last quarter. Finally, Royal Bank of Canada boosted its position in iShares U.S. Pharmaceuticals ETF by 0.3% during the first quarter. Royal Bank of Canada now owns 101,984 shares of the company’s stock valued at $7,197,000 after purchasing an additional 325 shares in the last quarter.

About iShares U.S. Pharmaceuticals ETF

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.