iShares U.S. Pharmaceuticals ETF (NYSEARCA:IHE) Reaches New 1-Year High – Here’s Why

iShares U.S. Pharmaceuticals ETF (NYSEARCA:IHE)’s stock price hit a new 52-week high on Monday . The stock traded as high as $73.28 and last traded at $73.00, with a volume of 33521 shares changing hands. The stock had previously closed at $72.67.

iShares U.S. Pharmaceuticals ETF Stock Performance

The firm’s fifty day simple moving average is $68.44 and its 200 day simple moving average is $69.40. The firm has a market cap of $735.79 million, a P/E ratio of 6.49 and a beta of 0.58.

Institutional Trading of iShares U.S. Pharmaceuticals ETF

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its holdings in shares of iShares U.S. Pharmaceuticals ETF by 2,176.8% during the 4th quarter. JPMorgan Chase & Co. now owns 188,567 shares of the company’s stock worth $12,393,000 after purchasing an additional 180,285 shares during the period. Raymond James Financial Inc. purchased a new position in shares of iShares U.S. Pharmaceuticals ETF in the 4th quarter valued at about $4,472,000. Two Sigma Investments LP acquired a new position in shares of iShares U.S. Pharmaceuticals ETF during the fourth quarter worth $4,430,000. Pallas Capital Advisors LLC purchased a new position in shares of iShares U.S. Pharmaceuticals ETF in the 4th quarter valued at about $3,829,000. Finally, Canal Capital Management LLC purchased a new stake in shares of iShares U.S. Pharmaceuticals ETF during the 4th quarter worth approximately $1,348,000.

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.