iShares U.S. Pharmaceuticals ETF (NYSEARCA:IHE) Sets New 12-Month Low – Here’s Why

iShares U.S. Pharmaceuticals ETF (NYSEARCA:IHE)’s share price reached a new 52-week low during trading on Monday . The company traded as low as $60.12 and last traded at $61.71, with a volume of 104451 shares traded. The stock had previously closed at $63.43.

iShares U.S. Pharmaceuticals ETF Trading Down 1.4 %

The stock has a market cap of $550.18 million, a price-to-earnings ratio of 25.04 and a beta of 0.63. The firm’s 50 day moving average is $70.04 and its two-hundred day moving average is $69.02.

Institutional Trading of iShares U.S. Pharmaceuticals ETF

Hedge funds and other institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its stake in iShares U.S. Pharmaceuticals ETF by 2,176.8% in the 4th quarter. JPMorgan Chase & Co. now owns 188,567 shares of the company’s stock worth $12,393,000 after buying an additional 180,285 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of iShares U.S. Pharmaceuticals ETF in the fourth quarter worth approximately $4,472,000. Two Sigma Investments LP acquired a new stake in shares of iShares U.S. Pharmaceuticals ETF in the fourth quarter worth approximately $4,430,000. Pallas Capital Advisors LLC purchased a new stake in iShares U.S. Pharmaceuticals ETF in the fourth quarter valued at approximately $3,829,000. Finally, Canal Capital Management LLC acquired a new position in iShares U.S. Pharmaceuticals ETF during the fourth quarter worth approximately $1,348,000.

iShares U.S. Pharmaceuticals ETF Company Profile

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.