iShares U.S. Medical Devices ETF (NYSEARCA:IHI) Hits New 1-Year Low – Here’s Why

iShares U.S. Medical Devices ETF (NYSEARCA:IHI) shares hit a new 52-week low on Monday . The company traded as low as $52.90 and last traded at $53.10, with a volume of 215791 shares trading hands. The stock had previously closed at $55.00.

iShares U.S. Medical Devices ETF Price Performance

The stock’s 50 day moving average is $62.22 and its 200-day moving average is $60.58. The company has a market capitalization of $4.35 billion, a P/E ratio of 29.98 and a beta of 0.90.

Institutional Investors Weigh In On iShares U.S. Medical Devices ETF

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IHI. Modus Advisors LLC purchased a new stake in shares of iShares U.S. Medical Devices ETF in the 4th quarter worth about $28,000. Copia Wealth Management purchased a new stake in iShares U.S. Medical Devices ETF in the fourth quarter worth about $33,000. Comprehensive Financial Planning Inc. PA bought a new position in shares of iShares U.S. Medical Devices ETF during the fourth quarter valued at approximately $33,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in shares of iShares U.S. Medical Devices ETF during the fourth quarter valued at approximately $33,000. Finally, Aspect Partners LLC bought a new stake in shares of iShares U.S. Medical Devices ETF in the 4th quarter worth approximately $35,000.

About iShares U.S. Medical Devices ETF

The iShares U.S. Medical Devices ETF (IHI) is an exchange-traded fund that is based on the DJ US Select \u002F Medical Equipment index, a market-cap-weighted index of manufacturers and distributors of medical devices in the US. IHI was launched on May 1, 2006 and is managed by BlackRock.