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

Shares of iShares U.S. Pharmaceuticals ETF (NYSEARCA:IHE) saw strong trading volume on Thursday . 175,712 shares changed hands during trading, an increase of 51% from the previous session’s volume of 116,050 shares.The stock last traded at $102.34 and had previously closed at $102.37.

iShares U.S. Pharmaceuticals ETF Price Performance

The stock has a market cap of $1.17 billion, a PE ratio of 17.75 and a beta of 0.49. The stock has a 50-day moving average price of $92.64 and a two-hundred day moving average price of $89.15.

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

Institutional investors have recently added to or reduced their stakes in the company. 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 worth $7,197,000 after acquiring an additional 325 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of iShares U.S. Pharmaceuticals ETF by 4.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 104,815 shares of the company’s stock valued at $7,396,000 after acquiring an additional 4,815 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of iShares U.S. Pharmaceuticals ETF by 781.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 110,936 shares of the company’s stock valued at $7,271,000 after acquiring an additional 98,352 shares during the last quarter. Raymond James Financial Inc. grew its holdings in shares of iShares U.S. Pharmaceuticals ETF by 3.2% in the second quarter. Raymond James Financial Inc. now owns 63,564 shares of the company’s stock valued at $4,166,000 after purchasing an additional 1,955 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in shares of iShares U.S. Pharmaceuticals ETF by 491.9% in the second quarter. Ameriprise Financial Inc. now owns 23,658 shares of the company’s stock valued at $1,550,000 after purchasing an additional 19,661 shares in the last quarter.

iShares U.S. Pharmaceuticals ETF Company Profile

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.