Jacobi Capital Management LLC Trims Position in iShares Biotechnology ETF (NASDAQ:IBB)

Jacobi Capital Management LLC lessened its stake in shares of iShares Biotechnology ETF (NASDAQ:IBB) by 2.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,530 shares of the financial services provider’s stock after selling 75 shares during the quarter. Jacobi Capital Management LLC’s holdings in iShares Biotechnology ETF were worth $347,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in IBB. Dynamic Advisor Solutions LLC grew its holdings in iShares Biotechnology ETF by 10.1% during the 4th quarter. Dynamic Advisor Solutions LLC now owns 5,748 shares of the financial services provider’s stock valued at $782,000 after buying an additional 528 shares in the last quarter. Brookstone Capital Management grew its holdings in iShares Biotechnology ETF by 4.1% during the 4th quarter. Brookstone Capital Management now owns 6,753 shares of the financial services provider’s stock valued at $917,000 after buying an additional 269 shares in the last quarter. Advisor Resource Council purchased a new position in shares of iShares Biotechnology ETF during the fourth quarter worth about $211,000. CX Institutional purchased a new position in shares of iShares Biotechnology ETF during the fourth quarter worth about $393,000. Finally, Premier Path Wealth Partners LLC purchased a new position in shares of iShares Biotechnology ETF during the fourth quarter worth about $207,000. Hedge funds and other institutional investors own 62.45% of the company’s stock.

iShares Biotechnology ETF Stock Down 0.2 %

Shares of NASDAQ IBB traded down $0.32 during midday trading on Tuesday, hitting $145.92. 295,777 shares of the company’s stock were exchanged, compared to its average volume of 1,615,040. iShares Biotechnology ETF has a 12-month low of $111.83 and a 12-month high of $148.60. The business’s fifty day moving average price is $137.95 and its two-hundred day moving average price is $135.70.

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.