iShares U.S. Pharmaceuticals ETF (NYSEARCA:IHE) Sees Large Volume Increase – Here’s Why

iShares U.S. Pharmaceuticals ETF (NYSEARCA:IHE) shares saw an uptick in trading volume on Thursday . 150,079 shares changed hands during mid-day trading, a decline of 2% from the previous session’s volume of 152,840 shares.The stock last traded at $104.85 and had previously closed at $105.93.

iShares U.S. Pharmaceuticals ETF Trading Down 0.7%

The company has a market cap of $1.67 billion, a PE ratio of 17.75 and a beta of 0.48. The business has a 50 day simple moving average of $101.71 and a two-hundred day simple moving average of $93.40.

Hedge Funds Weigh In On iShares U.S. Pharmaceuticals ETF

Several institutional investors have recently added to or reduced their stakes in the business. Heritage Oak Wealth Advisors LLC purchased a new stake in iShares U.S. Pharmaceuticals ETF in the 1st quarter valued at about $530,000. D.A. Davidson & CO. purchased a new position in shares of iShares U.S. Pharmaceuticals ETF during the 4th quarter worth about $1,709,000. Prevail Innovative Wealth Advisors LLC purchased a new position in shares of iShares U.S. Pharmaceuticals ETF during the 4th quarter worth about $4,529,000. Bank of America Corp DE lifted its holdings in shares of iShares U.S. Pharmaceuticals ETF by 2.8% during the 1st quarter. Bank of America Corp DE now owns 456,606 shares of the company’s stock worth $39,579,000 after acquiring an additional 12,565 shares during the period. Finally, Lee Johnson Capital Management LLC acquired a new stake in shares of iShares U.S. Pharmaceuticals ETF in the first quarter worth approximately $1,603,000.

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.