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

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

iShares U.S. Pharmaceuticals ETF Stock Up 0.3%

The firm’s 50 day simple moving average is $88.24 and its 200 day simple moving average is $87.09. The company has a market cap of $1.00 billion, a price-to-earnings ratio of 17.75 and a beta of 0.50.

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

Several large investors have recently made changes to their positions in IHE. Royal Bank of Canada increased its stake in shares of 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 purchasing an additional 325 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of iShares U.S. Pharmaceuticals ETF by 4.8% in the first quarter. Goldman Sachs Group Inc. now owns 104,815 shares of the company’s stock valued at $7,396,000 after purchasing an additional 4,815 shares during the period. JPMorgan Chase & Co. increased its stake in shares of iShares U.S. Pharmaceuticals ETF by 781.6% in the second quarter. JPMorgan Chase & Co. now owns 110,936 shares of the company’s stock valued at $7,271,000 after purchasing an additional 98,352 shares during the period. Raymond James Financial Inc. increased its stake in shares of iShares U.S. Pharmaceuticals ETF by 3.2% in 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 during the period. Finally, Ameriprise Financial Inc. increased its stake in shares of iShares U.S. Pharmaceuticals ETF by 491.9% in the second quarter. Ameriprise Financial Inc. now owns 23,658 shares of the company’s stock valued at $1,550,000 after purchasing an additional 19,661 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.