iShares U.S. Pharmaceuticals ETF (NYSEARCA:IHE) Sees Large Volume Increase – Here’s What Happened

iShares U.S. Pharmaceuticals ETF (NYSEARCA:IHE) shares saw strong trading volume on Monday . 732,323 shares were traded during mid-day trading, an increase of 686% from the previous session’s volume of 93,159 shares.The stock last traded at $88.29 and had previously closed at $88.00.

iShares U.S. Pharmaceuticals ETF Trading Up 0.5%

The company has a market cap of $955.04 million, a PE ratio of 17.75 and a beta of 0.49. The firm’s 50-day simple moving average is $87.34 and its two-hundred day simple moving average is $84.83.

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

Large investors have recently made changes to their positions in the stock. Royal Bank of Canada raised its stake in iShares U.S. Pharmaceuticals ETF by 0.3% in the 1st quarter. Royal Bank of Canada now owns 101,984 shares of the company’s stock worth $7,197,000 after acquiring an additional 325 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in iShares U.S. Pharmaceuticals ETF by 4.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 104,815 shares of the company’s stock valued at $7,396,000 after purchasing an additional 4,815 shares during the last quarter. JPMorgan Chase & Co. grew its stake in iShares U.S. Pharmaceuticals ETF by 781.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 110,936 shares of the company’s stock valued at $7,271,000 after purchasing an additional 98,352 shares during the last quarter. Raymond James Financial Inc. raised its stake in shares of iShares U.S. Pharmaceuticals ETF by 3.2% in the second quarter. Raymond James Financial Inc. now owns 63,564 shares of the company’s stock worth $4,166,000 after purchasing an additional 1,955 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its stake in shares of iShares U.S. Pharmaceuticals ETF by 491.9% in the second quarter. Ameriprise Financial Inc. now owns 23,658 shares of the company’s stock worth $1,550,000 after purchasing an additional 19,661 shares during 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.