iShares U.S. Pharmaceuticals ETF (NYSEARCA:IHE) Reaches New 52-Week High – Still a Buy?

Shares of iShares U.S. Pharmaceuticals ETF (NYSEARCA:IHE) reached a new 52-week high on Friday . The stock traded as high as $93.93 and last traded at $93.75, with a volume of 41562 shares changing hands. The stock had previously closed at $92.44.

iShares U.S. Pharmaceuticals ETF Stock Performance

The company has a market capitalization of $1.01 billion, a P/E ratio of 17.75 and a beta of 0.50. The firm has a 50 day moving average price of $88.11 and a two-hundred day moving average price of $87.05.

Institutional Investors Weigh In On iShares U.S. Pharmaceuticals ETF

A number of large investors have recently bought and sold shares of the business. Foundations Investment Advisors LLC bought a new stake in iShares U.S. Pharmaceuticals ETF during the 4th quarter worth approximately $54,513,000. Bank of America Corp DE grew its position in iShares U.S. Pharmaceuticals ETF by 2.8% during the 1st quarter. Bank of America Corp DE now owns 456,606 shares of the company’s stock worth $39,579,000 after acquiring an additional 12,565 shares during the last quarter. JPMorgan Chase & Co. grew its position in iShares U.S. Pharmaceuticals ETF by 89.4% during 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 during the last quarter. BNP Paribas Financial Markets acquired a new position in iShares U.S. Pharmaceuticals ETF during the 2nd quarter worth $13,108,000. Finally, Royal Bank of Canada lifted its holdings in iShares U.S. Pharmaceuticals ETF by 51.9% during the 4th quarter. Royal Bank of Canada now owns 156,973 shares of the company’s stock worth $13,315,000 after buying an additional 53,661 shares in 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.