iShares U.S. Medical Devices ETF (NYSEARCA:IHI) Reaches New 52-Week High – Here’s Why

iShares U.S. Medical Devices ETF (NYSEARCA:IHI) hit a new 52-week high on Wednesday . The company traded as high as $63.13 and last traded at $63.08, with a volume of 2122249 shares trading hands. The stock had previously closed at $61.84.

iShares U.S. Medical Devices ETF Stock Performance

The firm has a fifty day simple moving average of $60.11 and a 200-day simple moving average of $58.66. The company has a market capitalization of $6.04 billion, a PE ratio of 35.18 and a beta of 0.83.

Institutional Trading of iShares U.S. Medical Devices ETF

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. raised its stake in iShares U.S. Medical Devices ETF by 127.6% during the third quarter. JPMorgan Chase & Co. now owns 1,202,394 shares of the company’s stock valued at $71,206,000 after buying an additional 674,168 shares in the last quarter. International Assets Investment Management LLC raised its position in shares of iShares U.S. Medical Devices ETF by 5,167.0% during the 3rd quarter. International Assets Investment Management LLC now owns 758,814 shares of the company’s stock valued at $44,937,000 after acquiring an additional 744,407 shares in the last quarter. Raymond James & Associates lifted its stake in iShares U.S. Medical Devices ETF by 0.5% during the third quarter. Raymond James & Associates now owns 378,727 shares of the company’s stock worth $22,428,000 after purchasing an additional 1,756 shares during the last quarter. RiverFront Investment Group LLC boosted its holdings in iShares U.S. Medical Devices ETF by 8.7% in the second quarter. RiverFront Investment Group LLC now owns 290,829 shares of the company’s stock worth $16,298,000 after purchasing an additional 23,162 shares during the period. Finally, Wharton Business Group LLC increased its stake in iShares U.S. Medical Devices ETF by 3.0% during the third quarter. Wharton Business Group LLC now owns 276,850 shares of the company’s stock valued at $16,395,000 after purchasing an additional 8,070 shares during the last quarter.

About iShares U.S. Medical Devices ETF

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.