EFG Asset Management Americas Corp. Makes New Investment in iShares Nasdaq Biotechnology ETF (NASDAQ:IBB)

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EFG Asset Management Americas Corp. acquired a new position in shares of iShares Nasdaq Biotechnology ETF (NASDAQ:IBB) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,520 shares of the financial services provider’s stock, valued at approximately $208,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. MBE Wealth Management LLC purchased a new stake in iShares Nasdaq Biotechnology ETF during the 1st quarter valued at $25,000. Watson Rebecca purchased a new stake in iShares Nasdaq Biotechnology ETF during the 2nd quarter valued at approximately $43,000. Quadrant Capital Group LLC purchased a new stake in iShares Nasdaq Biotechnology ETF during the 4th quarter valued at approximately $39,000. First National Bank of South Miami raised its stake in shares of iShares Nasdaq Biotechnology ETF by 56.4% during the 1st quarter. First National Bank of South Miami now owns 352 shares of the financial services provider’s stock worth $38,000 after buying an additional 127 shares in the last quarter. Finally, Litman Gregory Asset Management LLC purchased a new position in shares of iShares Nasdaq Biotechnology ETF during the 1st quarter worth approximately $48,000. Hedge funds and other institutional investors own 71.40% of the company’s stock.

Separately, ValuEngine downgraded iShares Nasdaq Biotechnology ETF from a “hold” rating to a “sell” rating in a research note on Thursday, July 2nd.

Shares of IBB stock traded down $2.65 during trading hours on Friday, reaching $134.37. 4,527,991 shares of the company’s stock were exchanged, compared to its average volume of 2,926,969. The company’s 50 day moving average is $137.49 and its two-hundred day moving average is $124.21. iShares Nasdaq Biotechnology ETF has a 1 year low of $92.15 and a 1 year high of $146.53.

iShares Nasdaq Biotechnology ETF Company 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.

Further Reading: What does a dividend yield signify to investors?

Want to see what other hedge funds are holding IBB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for iShares Nasdaq Biotechnology ETF (NASDAQ:IBB).

Institutional Ownership by Quarter for iShares Nasdaq Biotechnology ETF (NASDAQ:IBB)

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