iShares U.S. Medical Devices ETF (NYSEARCA:IHI) Sets New 12-Month High – Time to Buy?

iShares U.S. Medical Devices ETF (NYSEARCA:IHI) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $61.38 and last traded at $61.36, with a volume of 170144 shares trading hands. The stock had previously closed at $60.62.

iShares U.S. Medical Devices ETF Stock Up 0.4 %

The firm’s 50-day moving average is $59.88 and its 200-day moving average is $58.45. The company has a market cap of $5.84 billion, a PE ratio of 35.18 and a beta of 0.83.

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

Several hedge funds have recently bought and sold shares of IHI. Arkansas Financial Group Inc. lifted its position in iShares U.S. Medical Devices ETF by 2.9% during the fourth quarter. Arkansas Financial Group Inc. now owns 183,268 shares of the company’s stock valued at $10,694,000 after purchasing an additional 5,172 shares during the period. Lake Hills Wealth Management LLC lifted its position in iShares U.S. Medical Devices ETF by 7.4% during the fourth quarter. Lake Hills Wealth Management LLC now owns 75,997 shares of the company’s stock valued at $4,434,000 after purchasing an additional 5,266 shares during the period. Paragon Financial Partners Inc. lifted its position in iShares U.S. Medical Devices ETF by 9.8% during the fourth quarter. Paragon Financial Partners Inc. now owns 18,641 shares of the company’s stock valued at $1,088,000 after purchasing an additional 1,657 shares during the period. Segment Wealth Management LLC lifted its position in iShares U.S. Medical Devices ETF by 7.4% during the fourth quarter. Segment Wealth Management LLC now owns 106,872 shares of the company’s stock valued at $6,236,000 after purchasing an additional 7,355 shares during the period. Finally, LaFleur & Godfrey LLC lifted its position in iShares U.S. Medical Devices ETF by 6.4% during the fourth quarter. LaFleur & Godfrey LLC now owns 3,805 shares of the company’s stock valued at $222,000 after purchasing an additional 228 shares during the period.

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.