iShares U.S. Medical Devices ETF (NYSEARCA:IHI) Sets New 1-Year Low – Here’s Why

Shares of iShares U.S. Medical Devices ETF (NYSEARCA:IHI) hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $52.09 and last traded at $52.15, with a volume of 812305 shares trading hands. The stock had previously closed at $52.72.

iShares U.S. Medical Devices ETF Price Performance

The company has a market capitalization of $3.13 billion, a PE ratio of 30.76 and a beta of 0.97. The company’s fifty day moving average is $55.04 and its 200-day moving average is $59.25.

Hedge Funds Weigh In On iShares U.S. Medical Devices ETF

Several institutional investors have recently bought and sold shares of the business. Mason & Associates Inc increased its holdings in iShares U.S. Medical Devices ETF by 10.8% during the first quarter. Mason & Associates Inc now owns 5,477 shares of the company’s stock valued at $288,000 after buying an additional 533 shares during the period. Kestra Advisory Services LLC increased its holdings in iShares U.S. Medical Devices ETF by 9.9% during the first quarter. Kestra Advisory Services LLC now owns 40,243 shares of the company’s stock valued at $2,147,000 after buying an additional 3,622 shares during the period. First Interstate Bank boosted its stake in iShares U.S. Medical Devices ETF by 61.2% in the first quarter. First Interstate Bank now owns 50,890 shares of the company’s stock valued at $2,715,000 after acquiring an additional 19,328 shares in the last quarter. BIP Wealth LLC purchased a new position in iShares U.S. Medical Devices ETF in the first quarter worth $929,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in iShares U.S. Medical Devices ETF in the first quarter worth $231,000.

iShares U.S. Medical Devices ETF Company Profile

The iShares U.S. Medical Devices ETF (IHI) is an exchange-traded fund that is based on the DJ US Select \u002F Medical Equipment index, a market-cap-weighted index of manufacturers and distributors of medical devices in the US. IHI was launched on May 1, 2006 and is managed by BlackRock.