iShares U.S. Medical Devices ETF (NYSEARCA:IHI) Sets New 1-Year High – Here’s Why

iShares U.S. Medical Devices ETF (NYSEARCA:IHI) reached a new 52-week high during trading on Wednesday . The company traded as high as $65.08 and last traded at $64.78, with a volume of 127135 shares trading hands. The stock had previously closed at $64.17.

iShares U.S. Medical Devices ETF Stock Performance

The stock has a market cap of $6.14 billion, a P/E ratio of 35.18 and a beta of 0.83. The firm has a 50 day simple moving average of $60.74 and a two-hundred day simple moving average of $59.16.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in IHI. Valley Wealth Managers Inc. grew its holdings in shares of iShares U.S. Medical Devices ETF by 0.6% during the fourth quarter. Valley Wealth Managers Inc. now owns 24,875 shares of the company’s stock worth $1,451,000 after buying an additional 160 shares in the last quarter. Concord Wealth Partners increased its holdings in shares of iShares U.S. Medical Devices ETF by 8.7% during the third quarter. Concord Wealth Partners now owns 2,156 shares of the company’s stock worth $128,000 after purchasing an additional 173 shares during the period. Tyche Wealth Partners LLC raised its position in shares of iShares U.S. Medical Devices ETF by 5.0% in the 4th quarter. Tyche Wealth Partners LLC now owns 4,198 shares of the company’s stock valued at $245,000 after buying an additional 198 shares in the last quarter. LaFleur & Godfrey LLC lifted its holdings in shares of 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 acquiring an additional 228 shares during the last quarter. Finally, Montag A & Associates Inc. raised its position in iShares U.S. Medical Devices ETF by 13.7% in the fourth quarter. Montag A & Associates Inc. now owns 2,070 shares of the company’s stock valued at $121,000 after purchasing an additional 250 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.