iShares U.S. Pharmaceuticals ETF (NYSEARCA:IHE) Reaches New 12-Month High – Still a Buy?

Shares of iShares U.S. Pharmaceuticals ETF (NYSEARCA:IHE) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $100.14 and last traded at $100.13, with a volume of 313962 shares. The stock had previously closed at $99.13.

iShares U.S. Pharmaceuticals ETF Stock Down 0.7%

The firm has a market cap of $1.11 billion, a PE ratio of 17.75 and a beta of 0.49. The stock’s fifty day simple moving average is $91.12 and its two-hundred day simple moving average is $88.56.

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

A number of hedge funds have recently added to or reduced their stakes in IHE. EFG International AG bought a new position in iShares U.S. Pharmaceuticals ETF in the 4th quarter worth $38,000. Assetmark Inc. increased its position in iShares U.S. Pharmaceuticals ETF by 203.9% in the fourth quarter. Assetmark Inc. now owns 465 shares of the company’s stock worth $39,000 after buying an additional 312 shares in the last quarter. O Shaughnessy Asset Management LLC increased its position in iShares U.S. Pharmaceuticals ETF by 35.0% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 463 shares of the company’s stock worth $39,000 after buying an additional 120 shares in the last quarter. Blueline Advisors LLC bought a new position in shares of iShares U.S. Pharmaceuticals ETF in the fourth quarter worth about $41,000. Finally, Ameriflex Group Inc. raised its stake in shares of iShares U.S. Pharmaceuticals ETF by 100.0% in the third quarter. Ameriflex Group Inc. now owns 582 shares of the company’s stock worth $42,000 after buying an additional 291 shares during the period.

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.