iShares U.S. Pharmaceuticals ETF (NYSEARCA:IHE – Get Free Report) saw a large decrease in short interest during the month of July. As of July 15th, there was short interest totaling 266,083 shares, a decrease of 40.0% from the June 30th total of 443,214 shares. Approximately 1.9% of the company’s shares are short sold. Based on an average daily volume of 440,124 shares, the short-interest ratio is presently 0.6 days.
Hedge Funds Weigh In On iShares U.S. Pharmaceuticals ETF
A number of institutional investors have recently modified their holdings of the stock. Foundations Investment Advisors LLC bought a new position in iShares U.S. Pharmaceuticals ETF during the 4th quarter worth about $54,513,000. Bank of America Corp DE grew its stake in iShares U.S. Pharmaceuticals ETF by 2.8% in the first quarter. Bank of America Corp DE now owns 456,606 shares of the company’s stock valued at $39,579,000 after purchasing an additional 12,565 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in iShares U.S. Pharmaceuticals ETF by 89.4% in the fourth quarter. JPMorgan Chase & Co. now owns 212,805 shares of the company’s stock worth $18,052,000 after purchasing an additional 100,426 shares in the last quarter. BNP Paribas Financial Markets purchased a new stake in shares of iShares U.S. Pharmaceuticals ETF during the second quarter valued at about $13,108,000. Finally, Royal Bank of Canada lifted its position in shares of iShares U.S. Pharmaceuticals ETF by 51.9% during the fourth quarter. Royal Bank of Canada now owns 156,973 shares of the company’s stock valued at $13,315,000 after buying an additional 53,661 shares during the last quarter.
iShares U.S. Pharmaceuticals ETF Stock Down 0.8%
iShares U.S. Pharmaceuticals ETF stock traded down $0.84 during midday trading on Friday, reaching $101.62. The stock had a trading volume of 110,834 shares, compared to its average volume of 145,690. The firm has a market cap of $1.59 billion, a price-to-earnings ratio of 17.75 and a beta of 0.49. iShares U.S. Pharmaceuticals ETF has a 52-week low of $64.94 and a 52-week high of $105.02. The company has a fifty day moving average of $96.79 and a 200 day moving average of $90.94.
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.
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