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

Shares of iShares U.S. Medical Devices ETF (NYSEARCA:IHI) reached a new 52-week high during 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 Price Performance

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

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

Institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. increased its stake in iShares U.S. Medical Devices ETF by 127.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,202,394 shares of the company’s stock worth $71,206,000 after buying an additional 674,168 shares during the period. International Assets Investment Management LLC increased its position in iShares U.S. Medical Devices ETF by 5,167.0% during the 3rd quarter. International Assets Investment Management LLC now owns 758,814 shares of the company’s stock valued at $44,937,000 after purchasing an additional 744,407 shares during the period. Raymond James & Associates increased its position in iShares U.S. Medical Devices ETF by 0.5% during the 3rd quarter. Raymond James & Associates now owns 378,727 shares of the company’s stock valued at $22,428,000 after purchasing an additional 1,756 shares during the period. RiverFront Investment Group LLC grew its position in shares of iShares U.S. Medical Devices ETF by 8.7% in the 2nd 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 during the last quarter. Finally, Wharton Business Group LLC grew its position in shares of iShares U.S. Medical Devices ETF by 3.0% in the 3rd quarter. Wharton Business Group LLC now owns 276,850 shares of the company’s stock worth $16,395,000 after buying an additional 8,070 shares during the last quarter.

About iShares U.S. Medical Devices ETF

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.