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

iShares U.S. Medical Devices ETF (NYSEARCA:IHI) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $60.73 and last traded at $60.64, with a volume of 7662 shares. The stock had previously closed at $59.49.

iShares U.S. Medical Devices ETF Price Performance

The company has a market capitalization of $5.68 billion, a P/E ratio of 35.18 and a beta of 0.83. The stock has a 50-day moving average price of $58.93 and a 200-day moving average price of $57.02.

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

Hedge funds have recently made changes to their positions in the stock. Headlands Technologies LLC bought a new position in shares of iShares U.S. Medical Devices ETF during the first quarter worth about $27,000. GAMMA Investing LLC raised its position in shares of iShares U.S. Medical Devices ETF by 91.1% during the second quarter. GAMMA Investing LLC now owns 516 shares of the company’s stock worth $29,000 after acquiring an additional 246 shares during the last quarter. Global Trust Asset Management LLC raised its position in shares of iShares U.S. Medical Devices ETF by 400.0% during the second quarter. Global Trust Asset Management LLC now owns 750 shares of the company’s stock worth $42,000 after acquiring an additional 600 shares during the last quarter. Blue Trust Inc. increased its holdings in iShares U.S. Medical Devices ETF by 186.3% in the third quarter. Blue Trust Inc. now owns 1,062 shares of the company’s stock worth $60,000 after purchasing an additional 691 shares in the last quarter. Finally, Mather Group LLC. increased its holdings in iShares U.S. Medical Devices ETF by 52.6% in the second quarter. Mather Group LLC. now owns 1,096 shares of the company’s stock worth $64,000 after purchasing an additional 378 shares in 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.