iShares Nasdaq Biotechnology ETF (NASDAQ:IBB) Hits New 12-Month High at $120.36

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iShares Nasdaq Biotechnology ETF (NASDAQ:IBB) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $120.36 and last traded at $120.30, with a volume of 1110281 shares traded. The stock had previously closed at $119.15.

Separately, ValuEngine downgraded shares of iShares Nasdaq Biotechnology ETF from a “buy” rating to a “hold” rating in a research report on Tuesday, October 22nd.

The company’s fifty day simple moving average is $110.32 and its two-hundred day simple moving average is $105.71.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Horan Capital Advisors LLC. bought a new stake in iShares Nasdaq Biotechnology ETF in the third quarter worth $34,000. Signaturefd LLC lifted its position in shares of iShares Nasdaq Biotechnology ETF by 59.2% during the 2nd quarter. Signaturefd LLC now owns 328 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 122 shares during the period. HM Payson & Co. acquired a new stake in shares of iShares Nasdaq Biotechnology ETF during the 2nd quarter valued at approximately $36,000. Capital Planning Advisors LLC purchased a new stake in shares of iShares Nasdaq Biotechnology ETF during the 3rd quarter worth approximately $36,000. Finally, Oakworth Capital Inc. increased its stake in iShares Nasdaq Biotechnology ETF by 171.4% in the 2nd quarter. Oakworth Capital Inc. now owns 475 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 300 shares in the last quarter. 82.74% of the stock is currently owned by institutional investors and hedge funds.

iShares Nasdaq Biotechnology ETF Company Profile (NASDAQ:IBB)

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.

Read More: How is a management fee different from a performance fee?

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