iShares U.S. Pharmaceuticals ETF (NYSEARCA:IHE) Sets New 52-Week High – Here’s Why

iShares U.S. Pharmaceuticals ETF (NYSEARCA:IHE)’s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $86.32 and last traded at $86.1480, with a volume of 4881 shares changing hands. The stock had previously closed at $86.15.

iShares U.S. Pharmaceuticals ETF Stock Down 0.5%

The firm has a market cap of $688.92 million, a price-to-earnings ratio of 17.75 and a beta of 0.54. The company has a 50-day moving average price of $81.50 and a 200 day moving average price of $73.74.

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

A number of large investors have recently made changes to their positions in the business. BNP Paribas Financial Markets acquired a new stake in shares of iShares U.S. Pharmaceuticals ETF during the second quarter worth approximately $13,108,000. JPMorgan Chase & Co. increased its stake in iShares U.S. Pharmaceuticals ETF by 781.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 110,936 shares of the company’s stock valued at $7,271,000 after buying an additional 98,352 shares during the period. Grimes & Company Inc. purchased a new stake in iShares U.S. Pharmaceuticals ETF in the 2nd quarter worth approximately $1,468,000. Ameriprise Financial Inc. boosted its stake in shares of iShares U.S. Pharmaceuticals ETF by 491.9% during the 2nd quarter. Ameriprise Financial Inc. now owns 23,658 shares of the company’s stock valued at $1,550,000 after buying an additional 19,661 shares during the period. Finally, Boothe Investment Group Inc. acquired a new stake in shares of iShares U.S. Pharmaceuticals ETF during the 2nd quarter valued at $602,000.

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.