iShares U.S. Pharmaceuticals ETF (NYSEARCA:IHE) Sees Significant Decrease in Short Interest

iShares U.S. Pharmaceuticals ETF (NYSEARCA:IHE) saw a significant drop in short interest in July. As of July 15th, there was short interest totaling 266,083 shares, a drop of 40.0% from the June 30th total of 443,214 shares. Approximately 1.9% of the company’s shares are short sold. Based on an average daily volume of 440,124 shares, the days-to-cover ratio is presently 0.6 days.

iShares U.S. Pharmaceuticals ETF Stock Down 1.0%

Shares of IHE traded down $1.04 during trading hours on Thursday, reaching $102.46. The stock had a trading volume of 308,068 shares, compared to its average volume of 145,930. The company has a market cap of $1.60 billion, a P/E ratio of 17.75 and a beta of 0.49. iShares U.S. Pharmaceuticals ETF has a 52 week low of $64.94 and a 52 week high of $105.02. The firm has a 50-day moving average of $96.55 and a 200 day moving average of $90.81.

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

A number of hedge funds have recently modified their holdings of the business. Foundations Investment Advisors LLC acquired a new position in shares of iShares U.S. Pharmaceuticals ETF in the 4th quarter valued at approximately $54,513,000. BNP Paribas Financial Markets bought a new position in iShares U.S. Pharmaceuticals ETF in the second quarter valued at approximately $13,108,000. Anfield Capital Management LLC bought a new position in iShares U.S. Pharmaceuticals ETF in the fourth quarter valued at approximately $10,007,000. JPMorgan Chase & Co. boosted its holdings in shares of iShares U.S. Pharmaceuticals ETF by 89.4% in the fourth quarter. JPMorgan Chase & Co. now owns 212,805 shares of the company’s stock valued at $18,052,000 after buying an additional 100,426 shares during the period. Finally, 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 acquiring an additional 95,353 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.