Pinnacle Associates Ltd. Increases Stock Position in iShares U.S. Medical Devices ETF (NYSEARCA:IHI)

Pinnacle Associates Ltd. increased its position in shares of iShares U.S. Medical Devices ETF (NYSEARCA:IHI) by 4.2% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 31,066 shares of the company’s stock after buying an additional 1,260 shares during the quarter. Pinnacle Associates Ltd.’s holdings in iShares U.S. Medical Devices ETF were worth $1,677,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC boosted its holdings in iShares U.S. Medical Devices ETF by 5,167.0% during the third quarter. International Assets Investment Management LLC now owns 758,814 shares of the company’s stock worth $44,937,000 after buying an additional 744,407 shares in the last quarter. Flaharty Asset Management LLC boosted its holdings in iShares U.S. Medical Devices ETF by 1.9% during the second quarter. Flaharty Asset Management LLC now owns 431,783 shares of the company’s stock worth $24,197,000 after buying an additional 8,241 shares in the last quarter. Commonwealth Equity Services LLC boosted its holdings in iShares U.S. Medical Devices ETF by 11.6% during the second quarter. Commonwealth Equity Services LLC now owns 400,501 shares of the company’s stock worth $22,444,000 after buying an additional 41,737 shares in the last quarter. Raymond James & Associates boosted its holdings 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 buying an additional 1,756 shares in the last quarter. Finally, RiverFront Investment Group LLC boosted its holdings in iShares U.S. Medical Devices ETF by 8.7% during the second quarter. RiverFront Investment Group LLC now owns 290,829 shares of the company’s stock worth $16,298,000 after buying an additional 23,162 shares in the last quarter.

iShares U.S. Medical Devices ETF Stock Performance

Shares of NYSEARCA IHI opened at $59.14 on Friday. The company’s fifty day moving average price is $58.81 and its 200 day moving average price is $56.87. iShares U.S. Medical Devices ETF has a 1 year low of $45.03 and a 1 year high of $60.43. The company has a market capitalization of $5.59 billion, a PE ratio of 35.18 and a beta of 0.83.

iShares U.S. Medical Devices ETF 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.