iShares U.S. Pharmaceuticals ETF (NYSEARCA:IHE) Reaches New 1-Year High – Should You Buy?

iShares U.S. Pharmaceuticals ETF (NYSEARCA:IHE) shares reached a new 52-week high on Thursday . The company traded as high as $94.89 and last traded at $93.34, with a volume of 47710 shares traded. The stock had previously closed at $93.79.

iShares U.S. Pharmaceuticals ETF Stock Performance

The company has a market cap of $1.01 billion, a price-to-earnings ratio of 17.75 and a beta of 0.50. The stock’s fifty day moving average is $88.77 and its two-hundred day moving average is $87.38.

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

Several institutional investors and hedge funds have recently added to or reduced their stakes in IHE. Royal Bank of Canada increased its stake in iShares U.S. Pharmaceuticals ETF by 0.3% in the 1st quarter. Royal Bank of Canada now owns 101,984 shares of the company’s stock valued at $7,197,000 after buying an additional 325 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in iShares U.S. Pharmaceuticals ETF by 4.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 104,815 shares of the company’s stock valued at $7,396,000 after buying an additional 4,815 shares during the last quarter. JPMorgan Chase & Co. increased its stake in iShares U.S. Pharmaceuticals ETF by 781.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 110,936 shares of the company’s stock valued at $7,271,000 after buying an additional 98,352 shares during the last quarter. Raymond James Financial Inc. increased its stake in iShares U.S. Pharmaceuticals ETF by 3.2% in the 2nd quarter. Raymond James Financial Inc. now owns 63,564 shares of the company’s stock valued at $4,166,000 after buying an additional 1,955 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its stake in iShares U.S. Pharmaceuticals ETF by 491.9% in the 2nd quarter. Ameriprise Financial Inc. now owns 23,658 shares of the company’s stock valued at $1,550,000 after buying an additional 19,661 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.