iShares U.S. Medical Devices ETF (NYSEARCA:IHI) Hits New 52-Week High – Should You Buy?

iShares U.S. Medical Devices ETF (NYSEARCA:IHI) shares hit a new 52-week high on Monday . The stock traded as high as $60.88 and last traded at $60.56, with a volume of 5001 shares changing hands. The stock had previously closed at $60.35.

iShares U.S. Medical Devices ETF Price Performance

The firm’s 50 day moving average is $59.22 and its 200 day moving average is $57.44. The company has a market cap of $5.74 billion, a PE ratio of 35.18 and a beta of 0.83.

Hedge Funds Weigh In On iShares U.S. Medical Devices ETF

A number of hedge funds and other institutional investors have recently modified their holdings of IHI. International Assets Investment Management LLC boosted its holdings in shares of 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 purchasing an additional 744,407 shares during the period. Cetera Investment Advisers raised its holdings in iShares U.S. Medical Devices ETF by 435.3% in the 1st quarter. Cetera Investment Advisers now owns 233,834 shares of the company’s stock worth $13,700,000 after acquiring an additional 190,153 shares during the last quarter. Gimbal Financial bought a new position in shares of iShares U.S. Medical Devices ETF during the third quarter valued at $6,609,000. Strategic Financial Concepts LLC purchased a new stake in shares of iShares U.S. Medical Devices ETF during the 2nd quarter valued at about $58,000. Finally, Lake Hills Wealth Management LLC bought a new stake in iShares U.S. Medical Devices ETF in the 2nd quarter worth approximately $4,160,000.

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.