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

Shares of iShares U.S. Pharmaceuticals ETF (NYSEARCA:IHE) saw unusually-strong trading volume on Wednesday . Approximately 392,254 shares were traded during mid-day trading, an increase of 170% from the previous session’s volume of 145,092 shares.The stock last traded at $102.78 and had previously closed at $101.24.

iShares U.S. Pharmaceuticals ETF Stock Up 1.1%

The firm has a 50 day moving average of $97.38 and a 200 day moving average of $91.25. The firm has a market cap of $1.64 billion, a PE ratio of 17.75 and a beta of 0.48.

Institutional Trading of iShares U.S. Pharmaceuticals ETF

Hedge funds have recently made changes to their positions in the company. Foundations Investment Advisors LLC purchased a new position in shares of iShares U.S. Pharmaceuticals ETF during the 4th quarter valued at $54,513,000. BNP Paribas Financial Markets bought a new stake in iShares U.S. Pharmaceuticals ETF in the 2nd quarter valued at about $13,108,000. Anfield Capital Management LLC purchased a new stake in iShares U.S. Pharmaceuticals ETF during the fourth quarter valued at about $10,007,000. JPMorgan Chase & Co. lifted its holdings in iShares U.S. Pharmaceuticals ETF by 89.4% during the fourth quarter. JPMorgan Chase & Co. now owns 212,805 shares of the company’s stock valued at $18,052,000 after purchasing an additional 100,426 shares during the last quarter. Finally, Cetera Investment Advisers boosted its position in iShares U.S. Pharmaceuticals ETF by 675.4% during the first quarter. Cetera Investment Advisers now owns 109,471 shares of the company’s stock worth $9,489,000 after purchasing an additional 95,353 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.