iShares U.S. Medical Devices ETF (NYSEARCA:IHI) Hits New 52-Week 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 $48.57 and last traded at $48.66, with a volume of 185253 shares trading hands. The stock had previously closed at $49.01.

iShares U.S. Medical Devices ETF Trading Down 2.6%

The firm has a market capitalization of $2.96 billion, a PE ratio of 30.76 and a beta of 0.86. The business’s 50 day simple moving average is $54.46 and its two-hundred day simple moving average is $59.05.

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

Several hedge funds and other institutional investors have recently modified their holdings of IHI. Integrated Wealth Concepts LLC increased its stake in shares of iShares U.S. Medical Devices ETF by 22.4% in the 1st quarter. Integrated Wealth Concepts LLC now owns 9,345 shares of the company’s stock worth $562,000 after purchasing an additional 1,710 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of iShares U.S. Medical Devices ETF by 46.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 427,152 shares of the company’s stock worth $25,710,000 after purchasing an additional 135,927 shares in the last quarter. Russell Investments Group Ltd. increased its stake in shares of iShares U.S. Medical Devices ETF by 15.7% in the 2nd quarter. Russell Investments Group Ltd. now owns 1,303 shares of the company’s stock worth $82,000 after purchasing an additional 177 shares in the last quarter. Qube Research & Technologies Ltd increased its stake in shares of iShares U.S. Medical Devices ETF by 16.2% in the 2nd quarter. Qube Research & Technologies Ltd now owns 158,077 shares of the company’s stock worth $9,902,000 after purchasing an additional 22,052 shares in the last quarter. Finally, Jane Street Group LLC increased its stake in shares of iShares U.S. Medical Devices ETF by 188.6% in the 2nd quarter. Jane Street Group LLC now owns 55,569 shares of the company’s stock worth $3,481,000 after purchasing an additional 36,312 shares in the last quarter.

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.