iShares U.S. Pharmaceuticals ETF (NYSEARCA:IHE) Sees Large Volume Increase

iShares U.S. Pharmaceuticals ETF (NYSEARCA:IHE) shares saw unusually-high trading volume on Tuesday . Approximately 501,270 shares were traded during trading, an increase of 609% from the previous session’s volume of 70,738 shares.The stock last traded at $65.98 and had previously closed at $66.50.

iShares U.S. Pharmaceuticals ETF Price Performance

The stock’s 50-day moving average price is $65.84 and its 200-day moving average price is $65.47. The company has a market cap of $662.66 million, a P/E ratio of 6.49 and a beta of 0.58.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in IHE. Cetera Advisors LLC acquired a new stake in iShares U.S. Pharmaceuticals ETF during the first quarter worth about $265,000. Comerica Bank increased its stake in iShares U.S. Pharmaceuticals ETF by 71.6% in the first quarter. Comerica Bank now owns 1,462 shares of the company’s stock valued at $99,000 after acquiring an additional 610 shares during the last quarter. Kraft Davis & Associates LLC increased its stake in iShares U.S. Pharmaceuticals ETF by 116.8% in the first quarter. Kraft Davis & Associates LLC now owns 24,294 shares of the company’s stock valued at $1,590,000 after acquiring an additional 13,088 shares during the last quarter. Axxcess Wealth Management LLC lifted its stake in iShares U.S. Pharmaceuticals ETF by 201.3% during the first quarter. Axxcess Wealth Management LLC now owns 3,362 shares of the company’s stock worth $228,000 after purchasing an additional 2,246 shares during the last quarter. Finally, Patten & Patten Inc. TN boosted its holdings in shares of iShares U.S. Pharmaceuticals ETF by 194.5% in the 1st quarter. Patten & Patten Inc. TN now owns 16,932 shares of the company’s stock valued at $1,150,000 after purchasing an additional 11,183 shares in the last quarter.

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.