Potomac Fund Management Inc. ADV Makes New Investment in iShares Biotechnology ETF $IBB

Potomac Fund Management Inc. ADV purchased a new position in shares of iShares Biotechnology ETF (NASDAQ:IBB) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 81,760 shares of the financial services provider’s stock, valued at approximately $13,799,000. iShares Biotechnology ETF makes up about 0.5% of Potomac Fund Management Inc. ADV’s holdings, making the stock its 19th biggest position. Potomac Fund Management Inc. ADV owned about 0.17% of iShares Biotechnology ETF as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in IBB. Darwin Wealth Management LLC bought a new stake in shares of iShares Biotechnology ETF during the 2nd quarter worth about $25,000. Basepoint Wealth LLC bought a new stake in shares of iShares Biotechnology ETF during the 4th quarter worth about $26,000. Cary Street Partners Financial LLC bought a new stake in shares of iShares Biotechnology ETF during the 4th quarter worth about $29,000. Copia Wealth Management bought a new stake in shares of iShares Biotechnology ETF during the 4th quarter worth about $34,000. Finally, Cornerstone Planning Group LLC bought a new stake in shares of iShares Biotechnology ETF during the 4th quarter worth about $35,000. 62.45% of the stock is currently owned by institutional investors.

iShares Biotechnology ETF Stock Performance

IBB stock opened at $170.66 on Monday. iShares Biotechnology ETF has a 52 week low of $123.61 and a 52 week high of $179.64. The firm’s 50-day moving average is $170.28 and its two-hundred day moving average is $170.66.

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.