Investors seeking momentum may have iShares U.S. Pharmaceuticals ETF (IHE – Free Report) on radar now. The fund recently hit a new 52-week high. Shares of IHE are up approximately 18.0% from their 52-week low of $166.99/share.
But could there be more gains ahead for this ETF? Let’s take a look at the fund and the near-term outlook to get a better idea of where it might be headed.
IHE In Focus
The underlying Dow Jones U.S. Select Pharmaceuticals Index is free-float adjusted market capitalization-weighted index. It includes pharmaceutical companies such as manufacturers of prescription or over-the-counter drugs or vaccines, but excludes producers of vitamins. The fund charges 40 bps in fees.
Why The Move?
The healthcare sector is a foundation of any economy, providing essential services irrespective of market conditions. From pharmaceutical giants…
