HighTower Advisors LLC reduced its position in iShares Biotechnology ETF (NASDAQ:IBB – Free Report) by 35.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 46,004 shares of the financial services provider’s stock after selling 24,900 shares during the quarter. HighTower Advisors LLC’s holdings in iShares Biotechnology ETF were worth $8,750,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Darwin Wealth Management LLC acquired a new stake in iShares Biotechnology ETF during the second quarter worth about $25,000. Basepoint Wealth LLC purchased a new position in shares of iShares Biotechnology ETF in the 4th quarter worth about $26,000. Pension & Wealth Management Advisors Inc. acquired a new position in shares of iShares Biotechnology ETF in the 2nd quarter valued at about $28,000. Cary Street Partners Financial LLC acquired a new position in shares of iShares Biotechnology ETF in the 4th quarter valued at about $29,000. Finally, Copia Wealth Management purchased a new stake in shares of iShares Biotechnology ETF during the 4th quarter worth about $34,000. Institutional investors and hedge funds own 62.45% of the company’s stock.
iShares Biotechnology ETF Price Performance
IBB opened at $202.64 on Friday. The firm has a 50 day moving average price of $199.28 and a 200 day moving average price of $181.22. iShares Biotechnology ETF has a 1 year low of $138.79 and a 1 year high of $217.12.
iShares Biotechnology ETF Profile
iShares Nasdaq Biotechnology ETF (the Fund), formerly iShares Nasdaq Biotechnology Index Fund, is an exchange-traded fund (ETF). The Fund seeks investment results that correspond generally to the price and yield performance of the NASDAQ Biotechnology Index (the Index). The Index contains securities of NASDAQ listed companies that are classified according to the Industry Classification Benchmark as either biotechnology or pharmaceuticals, which also meet other eligibility criteria determined by NASDAQ.
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