iShares U.S. Pharmaceuticals ETF (NYSEARCA:IHE) Sees Strong Trading Volume – Should You Buy?

Shares of iShares U.S. Pharmaceuticals ETF (NYSEARCA:IHE) saw strong trading volume on Wednesday . 315,162 shares traded hands during mid-day trading, an increase of 322% from the previous session’s volume of 74,646 shares.The stock last traded at $83.9120 and had previously closed at $83.34.

iShares U.S. Pharmaceuticals ETF Price Performance

The company has a 50 day simple moving average of $77.11 and a 200-day simple moving average of $71.03. The firm has a market cap of $674.29 million, a PE ratio of 17.75 and a beta of 0.54.

Hedge Funds Weigh In On iShares U.S. Pharmaceuticals ETF

A number of large investors have recently added to or reduced their stakes in the business. LPL Financial LLC boosted its position in iShares U.S. Pharmaceuticals ETF by 47.6% during the first quarter. LPL Financial LLC now owns 119,866 shares of the company’s stock valued at $8,458,000 after buying an additional 38,678 shares during the period. PNC Financial Services Group Inc. boosted its holdings in iShares U.S. Pharmaceuticals ETF by 20.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,281 shares of the company’s stock valued at $90,000 after acquiring an additional 216 shares during the period. Cookson Peirce & Co. Inc. bought a new position in iShares U.S. Pharmaceuticals ETF during the 1st quarter worth approximately $214,000. Royal Bank of Canada increased 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 purchasing an additional 325 shares during the period. Finally, Raab & Moskowitz Asset Management LLC lifted its position in iShares U.S. Pharmaceuticals ETF by 4.4% in the first quarter. Raab & Moskowitz Asset Management LLC now owns 4,803 shares of the company’s stock valued at $339,000 after purchasing an additional 204 shares during the last quarter.

iShares U.S. Pharmaceuticals ETF Company Profile

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.