iShares U.S. Pharmaceuticals ETF (NYSEARCA:IHE) Sees Unusually-High Trading Volume – Time to Buy?

Shares of iShares U.S. Pharmaceuticals ETF (NYSEARCA:IHE) saw strong trading volume on Thursday . 563,686 shares were traded during trading, an increase of 506% from the previous session’s volume of 92,951 shares.The stock last traded at $86.83 and had previously closed at $87.68.

iShares U.S. Pharmaceuticals ETF Stock Performance

The firm has a market cap of $1.01 billion, a P/E ratio of 17.75 and a beta of 0.54. The company’s 50-day moving average is $88.08 and its two-hundred day moving average is $82.76.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of IHE. Foundations Investment Advisors LLC purchased a new stake in iShares U.S. Pharmaceuticals ETF in the 4th quarter valued at $54,513,000. JPMorgan Chase & Co. grew its stake in shares of iShares U.S. Pharmaceuticals ETF by 89.4% in the 4th quarter. JPMorgan Chase & Co. now owns 212,805 shares of the company’s stock worth $18,052,000 after acquiring an additional 100,426 shares in the last quarter. BNP Paribas Financial Markets purchased a new stake in shares of iShares U.S. Pharmaceuticals ETF in the second quarter valued at about $13,108,000. Royal Bank of Canada lifted its position in shares of iShares U.S. Pharmaceuticals ETF by 51.9% during the fourth quarter. Royal Bank of Canada now owns 156,973 shares of the company’s stock valued at $13,315,000 after purchasing an additional 53,661 shares in the last quarter. Finally, LPL Financial LLC boosted its holdings in iShares U.S. Pharmaceuticals ETF by 21.3% during the fourth quarter. LPL Financial LLC now owns 137,747 shares of the company’s stock worth $11,685,000 after purchasing an additional 24,214 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.