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

iShares U.S. Pharmaceuticals ETF (NYSEARCA:IHE) shares saw unusually-high trading volume on Wednesday . Approximately 392,254 shares traded hands during trading, an increase of 170% from the previous session’s volume of 145,092 shares.The stock last traded at $102.78 and had previously closed at $101.24.

iShares U.S. Pharmaceuticals ETF Price Performance

The company has a fifty day moving average price of $97.78 and a two-hundred day moving average price of $91.48. The company has a market capitalization of $1.63 billion, a P/E ratio of 17.75 and a beta of 0.48.

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

A number of hedge funds have recently made changes to their positions in IHE. Foundations Investment Advisors LLC purchased a new stake in iShares U.S. Pharmaceuticals ETF in the 4th quarter valued at about $54,513,000. BNP Paribas Financial Markets purchased a new position in shares of iShares U.S. Pharmaceuticals ETF in the 2nd quarter worth approximately $13,108,000. Anfield Capital Management LLC bought a new position in shares of iShares U.S. Pharmaceuticals ETF in the fourth quarter valued at approximately $10,007,000. JPMorgan Chase & Co. lifted its holdings in iShares U.S. Pharmaceuticals ETF by 89.4% during the fourth 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 during the period. Finally, Cetera Investment Advisers lifted its holdings in 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 during the period.

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.