KWB Wealth Invests $524,000 in iShares Biotechnology ETF (NASDAQ:IBB)

KWB Wealth bought a new position in iShares Biotechnology ETF (NASDAQ:IBB) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,816 shares of the financial services provider’s stock, valued at approximately $524,000.

Other hedge funds have also modified their holdings of the company. First Horizon Advisors Inc. raised its holdings in shares of iShares Biotechnology ETF by 5.5% in the 4th quarter. First Horizon Advisors Inc. now owns 2,193 shares of the financial services provider’s stock worth $298,000 after buying an additional 115 shares in the last quarter. Pinnacle Wealth Management Advisory Group LLC increased its holdings in iShares Biotechnology ETF by 8.3% during the 4th quarter. Pinnacle Wealth Management Advisory Group LLC now owns 1,931 shares of the financial services provider’s stock valued at $262,000 after purchasing an additional 148 shares in the last quarter. Corient Private Wealth LLC increased its holdings in iShares Biotechnology ETF by 1.0% during the 4th quarter. Corient Private Wealth LLC now owns 86,700 shares of the financial services provider’s stock valued at $11,778,000 after purchasing an additional 841 shares in the last quarter. Great Valley Advisor Group Inc. increased its holdings in iShares Biotechnology ETF by 14.1% during the 4th quarter. Great Valley Advisor Group Inc. now owns 2,786 shares of the financial services provider’s stock valued at $378,000 after purchasing an additional 344 shares in the last quarter. Finally, Premier Path Wealth Partners LLC acquired a new stake in iShares Biotechnology ETF during the 4th quarter valued at $207,000. 62.45% of the stock is owned by institutional investors and hedge funds.

iShares Biotechnology ETF Trading Down 0.7 %

IBB stock traded down $0.93 during midday trading on Thursday, reaching $135.09. 1,045,826 shares of the company’s stock traded hands, compared to its average volume of 1,091,779. The company has a 50-day simple moving average of $135.13 and a two-hundred day simple moving average of $134.97. iShares Biotechnology ETF has a 1-year low of $111.83 and a 1-year high of $141.16.

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.