iShares U.S. Pharmaceuticals ETF (NYSEARCA:IHE) Sees Large Volume Increase – Should You Buy?

Shares of iShares U.S. Pharmaceuticals ETF (NYSEARCA:IHE) saw unusually-high trading volume on Wednesday . Approximately 315,162 shares changed hands during mid-day trading, an increase of 322% from the previous session’s volume of 74,646 shares.The stock last traded at $83.9120 and had previously closed at $83.34.

iShares U.S. Pharmaceuticals ETF Trading Up 0.0%

The firm has a market capitalization of $668.71 million, a price-to-earnings ratio of 17.75 and a beta of 0.54. The firm has a fifty day moving average price of $77.66 and a 200 day moving average price of $71.20.

Institutional Trading of iShares U.S. Pharmaceuticals ETF

Several large investors have recently made changes to their positions in IHE. Truist Financial Corp lifted its position in shares of iShares U.S. Pharmaceuticals ETF by 2.8% during the second quarter. Truist Financial Corp now owns 9,104 shares of the company’s stock worth $593,000 after purchasing an additional 252 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new position in iShares U.S. Pharmaceuticals ETF in the 2nd quarter worth approximately $264,000. LPL Financial LLC lifted its holdings in iShares U.S. Pharmaceuticals ETF by 47.6% during the 1st quarter. LPL Financial LLC now owns 119,866 shares of the company’s stock worth $8,458,000 after buying an additional 38,678 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in iShares U.S. Pharmaceuticals ETF by 20.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,281 shares of the company’s stock valued at $90,000 after buying an additional 216 shares during the last quarter. Finally, U.S. Capital Wealth Advisors LLC boosted its position in iShares U.S. Pharmaceuticals ETF by 24.1% in the 2nd quarter. U.S. Capital Wealth Advisors LLC now owns 6,668 shares of the company’s stock valued at $437,000 after buying an additional 1,296 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.