iShares U.S. Pharmaceuticals ETF (NYSEARCA:IHE) Reaches New 52-Week High – Still a Buy?

iShares U.S. Pharmaceuticals ETF (NYSEARCA:IHE) shares hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $93.93 and last traded at $93.75, with a volume of 41562 shares changing hands. The stock had previously closed at $92.44.

iShares U.S. Pharmaceuticals ETF Price Performance

The stock has a market capitalization of $1.01 billion, a P/E ratio of 17.75 and a beta of 0.50. The firm has a 50 day moving average of $88.11 and a 200-day moving average of $87.05.

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

Several large investors have recently modified their holdings of the stock. Foundations Investment Advisors LLC bought a new stake in shares of iShares U.S. Pharmaceuticals ETF in the 4th quarter valued at approximately $54,513,000. Bank of America Corp DE grew its stake in shares of iShares U.S. Pharmaceuticals ETF by 2.8% in the 1st quarter. Bank of America Corp DE now owns 456,606 shares of the company’s stock valued at $39,579,000 after purchasing an additional 12,565 shares during the period. JPMorgan Chase & Co. grew its stake in shares of iShares U.S. Pharmaceuticals ETF by 89.4% in the 4th 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 period. BNP Paribas Financial Markets bought a new stake in shares of iShares U.S. Pharmaceuticals ETF in the 2nd quarter valued at approximately $13,108,000. Finally, Royal Bank of Canada grew its stake in shares of iShares U.S. Pharmaceuticals ETF by 51.9% in the 4th quarter. Royal Bank of Canada now owns 156,973 shares of the company’s stock valued at $13,315,000 after purchasing an additional 53,661 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.