iShares U.S. Pharmaceuticals ETF (NYSEARCA:IHE) Sees Strong Trading Volume – What’s Next?

Shares of iShares U.S. Pharmaceuticals ETF (NYSEARCA:IHE) saw unusually-strong trading volume on Wednesday. 360,958 shares changed hands during mid-day trading, an increase of 118% from the previous session’s volume of 165,532 shares. The stock last traded at $99.7770 and had previously closed at $97.36.

iShares U.S. Pharmaceuticals ETF Trading Up 2.5%

The stock’s 50-day simple moving average is $102.61 and its 200-day simple moving average is $96.34. The stock has a market cap of $1.55 billion, a price-to-earnings ratio of 17.75 and a beta of 0.47.

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

A number of large investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE raised its position in iShares U.S. Pharmaceuticals ETF by 2.8% during the first quarter. Bank of America Corp DE now owns 456,606 shares of the company’s stock valued at $39,579,000 after purchasing an additional 12,565 shares in the last quarter. MinichMacGregor Wealth Management LLC bought a new position in iShares U.S. Pharmaceuticals ETF in the third quarter valued at about $32,098,000. Insight Wealth Strategies LLC grew its position in iShares U.S. Pharmaceuticals ETF by 3.3% in the second quarter. Insight Wealth Strategies LLC now owns 122,642 shares of the company’s stock valued at $12,055,000 after acquiring an additional 3,950 shares during the last quarter. Cetera Investment Advisers boosted its stake in shares of iShares U.S. Pharmaceuticals ETF by 675.4% in the 1st quarter. Cetera Investment Advisers now owns 109,471 shares of the company’s stock valued at $9,489,000 after purchasing an additional 95,353 shares in the last quarter. Finally, Congress Asset Management Co. bought a new stake in shares of iShares U.S. Pharmaceuticals ETF during the 3rd quarter valued at approximately $56,000.

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.