iShares U.S. Pharmaceuticals ETF (NYSEARCA:IHE) Sets New 52-Week High – Still a Buy?

Shares of iShares U.S. Pharmaceuticals ETF (NYSEARCA:IHE) reached a new 52-week high during trading on Monday . The company traded as high as $103.77 and last traded at $103.69, with a volume of 88422 shares trading hands. The stock had previously closed at $102.38.

iShares U.S. Pharmaceuticals ETF Stock Performance

The firm has a market capitalization of $1.49 billion, a PE ratio of 17.75 and a beta of 0.49. The stock’s 50 day simple moving average is $96.27 and its two-hundred day simple moving average is $90.68.

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

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Foundations Investment Advisors LLC acquired a new position in iShares U.S. Pharmaceuticals ETF during the fourth quarter worth $54,513,000. BNP Paribas Financial Markets acquired a new stake in shares of iShares U.S. Pharmaceuticals ETF in the 2nd quarter worth $13,108,000. Anfield Capital Management LLC purchased a new position in shares of iShares U.S. Pharmaceuticals ETF during the 4th quarter worth $10,007,000. JPMorgan Chase & Co. raised its holdings in shares of iShares U.S. Pharmaceuticals ETF by 89.4% during the 4th quarter. JPMorgan Chase & Co. now owns 212,805 shares of the company’s stock worth $18,052,000 after acquiring an additional 100,426 shares during the period. Finally, Cetera Investment Advisers boosted its position in shares of iShares U.S. Pharmaceuticals ETF by 675.4% during the 1st quarter. Cetera Investment Advisers now owns 109,471 shares of the company’s stock valued at $9,489,000 after acquiring an additional 95,353 shares during the last quarter.

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.