Mathes Company Inc. Trims Stake in iShares U.S. Medical Devices ETF

Mathes Company Inc. has reported a decrease in its investment in the iShares U.S. Medical Devices ETF (IHI), according to their most recent filing with the Securities and Exchange Commission (SEC). The company reduced its position by 1.2%, which equates to selling 600 shares during the 3rd quarter. As a result, Mathes Company retained ownership of 50,700 shares, valued at $2.46 million.

Investor Activity in IHI ETF

The investment firm is not the only institutional player to adjust its IHI holdings. Several other investors and hedge funds have also recently changed their stakes in the company. For instance, Baystate Wealth Management LLC and Union Savings Bank each established new positions in IHI during the second quarter, each worth approximately $25,000. Moreover, First Horizon Advisors Inc. expanded its IHI investment by 833.3%, now holding 560 shares worth $32,000 after purchasing an additional 500 shares in the last quarter. Additionally, Hibernia Wealth Partners LLC and Resurgent Financial Advisors LLC initiated new stakes during the third and fourth quarters, valued at around $37,000 and $42,000, respectively.

IHI ETF Market Performance

The ETF itself has shown some fluctuations in the market. On a recent trading day, IHI shares experienced a slight increase, trading up $0.45 to close at $54.90. The trading volume for the day was recorded at 172,306 shares, while the average volume sits around 1,037,015 shares. IHI has a market capitalization of $5.97 billion, a price-to-earnings (P/E) ratio of 33.98, and a beta of 0.85. Furthermore, the ETF's 52-week range has seen a low of $43.96 and a high of $57.95, with a 50-day moving average price of $50.56 and a 200-day moving average price of $51.37.

About iShares U.S. Medical Devices ETF

The iShares U.S. Medical Devices ETF is tailored to track the DJ US Select Medical Equipment Index, which represents U.S. manufacturers and distributors of medical devices. Managed by BlackRock, the IHI ETF was launched on May 1, 2006. It offers exposure to an industry that continues to be at the forefront of technological healthcare advancements.

iShares, Investment, ETF