iShares U.S. Pharmaceuticals ETF (NYSEARCA:IHE) Sees Strong Trading Volume – Here’s Why

iShares U.S. Pharmaceuticals ETF (NYSEARCA:IHE) shares saw an uptick in trading volume on Thursday . 563,686 shares traded hands during mid-day trading, an increase of 506% from the previous session’s volume of 92,951 shares.The stock last traded at $86.83 and had previously closed at $87.68.

iShares U.S. Pharmaceuticals ETF Stock Down 1.1%

The stock has a market cap of $971.04 million, a P/E ratio of 17.75 and a beta of 0.54. The firm has a 50 day simple moving average of $88.09 and a 200-day simple moving average of $82.61.

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

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

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.