Activest Wealth Management trimmed its holdings in shares of iShares Biotechnology ETF (NASDAQ:IBB – Get Rating) by 47.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 719 shares of the financial services provider’s stock after selling 654 shares during the quarter. Activest Wealth Management’s holdings in iShares Biotechnology ETF were worth $85,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Independence Bank of Kentucky boosted its holdings in iShares Biotechnology ETF by 121.1% during the second quarter. Independence Bank of Kentucky now owns 210 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 115 shares during the period. Integrity Financial Corp WA bought a new stake in iShares Biotechnology ETF during the fourth quarter valued at about $44,000. Johnson Financial Group Inc. bought a new stake in iShares Biotechnology ETF during the fourth quarter valued at about $46,000. Western Pacific Wealth Management LP bought a new stake in iShares Biotechnology ETF during the fourth quarter valued at about $45,000. Finally, Rinkey Investments bought a new stake in iShares Biotechnology ETF during the fourth quarter valued at about $56,000. 60.42% of the stock is owned by institutional investors and hedge funds.
iShares Biotechnology ETF Stock Down 1.7 %
IBB stock traded down $2.03 during mid-day trading on Friday, reaching $114.70. 124,030 shares of the stock traded hands, compared to its average volume of 1,872,065. The business has a 50-day moving average of $125.20 and a two-hundred day moving average of $122.41. iShares Biotechnology ETF has a 52 week low of $104.29 and a 52 week high of $174.45.
About iShares Biotechnology ETF
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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