iShares U.S. Medical Devices ETF (NYSEARCA:IHI) Sets New 1-Year High – Should You Buy?

Shares of iShares U.S. Medical Devices ETF (NYSEARCA:IHI) reached a new 52-week high during trading on Tuesday . The stock traded as high as $64.35 and last traded at $64.32, with a volume of 878378 shares trading hands. The stock had previously closed at $63.87.

iShares U.S. Medical Devices ETF Stock Performance

The firm has a market capitalization of $6.05 billion, a P/E ratio of 35.18 and a beta of 0.83. The firm has a 50 day moving average price of $60.45 and a two-hundred day moving average price of $58.92.

Institutional Investors Weigh In On iShares U.S. Medical Devices ETF

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Concord Wealth Partners grew its stake in shares of iShares U.S. Medical Devices ETF by 8.7% in the third quarter. Concord Wealth Partners now owns 2,156 shares of the company’s stock worth $128,000 after acquiring an additional 173 shares during the last quarter. Tyche Wealth Partners LLC raised its stake in shares of iShares U.S. Medical Devices ETF by 5.0% in the fourth quarter. Tyche Wealth Partners LLC now owns 4,198 shares of the company’s stock valued at $245,000 after acquiring an additional 198 shares during the last quarter. LaFleur & Godfrey LLC boosted its stake in iShares U.S. Medical Devices ETF by 6.4% in the fourth quarter. LaFleur & Godfrey LLC now owns 3,805 shares of the company’s stock worth $222,000 after purchasing an additional 228 shares in the last quarter. Rosenberg Matthew Hamilton lifted its position in iShares U.S. Medical Devices ETF by 9.1% during the 4th quarter. Rosenberg Matthew Hamilton now owns 3,090 shares of the company’s stock worth $180,000 after buying an additional 257 shares in the last quarter. Finally, Assetmark Inc. lifted its position in shares of iShares U.S. Medical Devices ETF by 20.7% during the third quarter. Assetmark Inc. now owns 1,615 shares of the company’s stock worth $96,000 after purchasing an additional 277 shares in the last quarter.

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.