iShares U.S. Pharmaceuticals ETF (NYSEARCA:IHE) Sets New 12-Month High – Here’s Why

iShares U.S. Pharmaceuticals ETF (NYSEARCA:IHE)’s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as $86.92 and last traded at $86.4290, with a volume of 11922 shares trading hands. The stock had previously closed at $84.61.

iShares U.S. Pharmaceuticals ETF Price Performance

The company has a market cap of $872.00 million, a price-to-earnings ratio of 17.75 and a beta of 0.54. The business’s fifty day moving average price is $82.93 and its 200 day moving average price is $74.57.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. BNP Paribas Financial Markets bought a new stake in shares of iShares U.S. Pharmaceuticals ETF during the 2nd quarter valued at about $13,108,000. JPMorgan Chase & Co. grew its holdings in iShares U.S. Pharmaceuticals ETF by 1.3% during the third quarter. JPMorgan Chase & Co. now owns 112,379 shares of the company’s stock worth $8,154,000 after buying an additional 1,443 shares in the last quarter. Goldman Sachs Group Inc. raised its position in iShares U.S. Pharmaceuticals ETF by 4.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 104,815 shares of the company’s stock valued at $7,396,000 after buying an additional 4,815 shares during the last quarter. Royal Bank of Canada lifted its stake in iShares U.S. Pharmaceuticals ETF by 0.3% during the 1st quarter. Royal Bank of Canada now owns 101,984 shares of the company’s stock valued at $7,197,000 after acquiring an additional 325 shares in the last quarter. Finally, Raymond James Financial Inc. lifted its position in shares of iShares U.S. Pharmaceuticals ETF by 3.2% during the second quarter. Raymond James Financial Inc. now owns 63,564 shares of the company’s stock valued at $4,166,000 after purchasing an additional 1,955 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.