iShares U.S. Pharmaceuticals ETF (NYSEARCA:IHE) Sees Strong Trading Volume – Time to Buy?

iShares U.S. Pharmaceuticals ETF (NYSEARCA:IHE) saw an uptick in trading volume on Friday . 146,747 shares changed hands during trading, an increase of 111% from the previous session’s volume of 69,396 shares.The stock last traded at $64.92 and had previously closed at $64.92.

iShares U.S. Pharmaceuticals ETF Stock Down 1.5 %

The stock’s 50 day moving average price is $66.79 and its two-hundred day moving average price is $67.91. The firm has a market capitalization of $548.16 million, a price-to-earnings ratio of 23.46 and a beta of 0.63.

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 company. Liberty Wealth Management LLC acquired a new position in iShares U.S. Pharmaceuticals ETF in the first quarter worth approximately $848,000. PNC Financial Services Group Inc. raised its holdings in shares of iShares U.S. Pharmaceuticals ETF by 20.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,281 shares of the company’s stock valued at $90,000 after purchasing an additional 216 shares in the last quarter. LPL Financial LLC lifted its stake in shares of iShares U.S. Pharmaceuticals ETF by 47.6% in the 1st quarter. LPL Financial LLC now owns 119,866 shares of the company’s stock valued at $8,458,000 after purchasing an additional 38,678 shares during the last quarter. IFP Advisors Inc boosted its holdings in iShares U.S. Pharmaceuticals ETF by 231.2% in the first quarter. IFP Advisors Inc now owns 944 shares of the company’s stock worth $67,000 after purchasing an additional 659 shares in the last quarter. Finally, Axxcess Wealth Management LLC increased its position in iShares U.S. Pharmaceuticals ETF by 40.6% during the first quarter. Axxcess Wealth Management LLC now owns 7,030 shares of the company’s stock worth $496,000 after buying an additional 2,029 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.