iShares U.S. Pharmaceuticals ETF (NYSEARCA:IHE) Sees Large Volume Increase – Here’s Why

iShares U.S. Pharmaceuticals ETF (NYSEARCA:IHE) saw unusually-high trading volume on Thursday . 225,500 shares were traded during mid-day trading, an increase of 73% from the previous session’s volume of 130,651 shares.The stock last traded at $101.13 and had previously closed at $100.64.

iShares U.S. Pharmaceuticals ETF Price Performance

The firm’s 50-day moving average is $95.11 and its 200 day moving average is $90.18. The stock has a market cap of $1.46 billion, a price-to-earnings ratio of 17.75 and a beta of 0.49.

Institutional Trading of iShares U.S. Pharmaceuticals ETF

Institutional investors and hedge funds have recently made changes to their positions in the company. Royal Bank of Canada boosted its holdings in iShares U.S. Pharmaceuticals ETF by 0.3% in the first 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 during the last quarter. Goldman Sachs Group Inc. increased its stake in iShares U.S. Pharmaceuticals ETF by 4.8% during the first quarter. Goldman Sachs Group Inc. now owns 104,815 shares of the company’s stock worth $7,396,000 after acquiring an additional 4,815 shares during the last quarter. JPMorgan Chase & Co. increased its stake in iShares U.S. Pharmaceuticals ETF by 781.6% during the second quarter. JPMorgan Chase & Co. now owns 110,936 shares of the company’s stock worth $7,271,000 after acquiring an additional 98,352 shares during the last quarter. Raymond James Financial Inc. raised its holdings in shares of iShares U.S. Pharmaceuticals ETF by 3.2% in the 2nd quarter. Raymond James Financial Inc. now owns 63,564 shares of the company’s stock worth $4,166,000 after purchasing an additional 1,955 shares during the period. Finally, Ameriprise Financial Inc. raised its holdings in shares of iShares U.S. Pharmaceuticals ETF by 491.9% in the 2nd quarter. Ameriprise Financial Inc. now owns 23,658 shares of the company’s stock worth $1,550,000 after purchasing an additional 19,661 shares during the period.

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.