FormulaFolio Investments LLC Invests $615,000 in iShares Nasdaq Biotechnology ETF (NASDAQ:IBB)


Share on StockTwits

FormulaFolio Investments LLC purchased a new position in iShares Nasdaq Biotechnology ETF (NASDAQ:IBB) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 4,062 shares of the financial services provider’s stock, valued at approximately $615,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Western Wealth Management LLC lifted its position in iShares Nasdaq Biotechnology ETF by 2.5% in the 4th quarter. Western Wealth Management LLC now owns 2,574 shares of the financial services provider’s stock valued at $390,000 after acquiring an additional 64 shares in the last quarter. Carroll Financial Associates Inc. raised its stake in iShares Nasdaq Biotechnology ETF by 1.8% during the 4th quarter. Carroll Financial Associates Inc. now owns 3,801 shares of the financial services provider’s stock valued at $575,000 after buying an additional 67 shares during the last quarter. Pacific Center for Financial Services raised its stake in iShares Nasdaq Biotechnology ETF by 7.6% during the 4th quarter. Pacific Center for Financial Services now owns 949 shares of the financial services provider’s stock valued at $144,000 after buying an additional 67 shares during the last quarter. Sigma Planning Corp raised its stake in iShares Nasdaq Biotechnology ETF by 0.7% during the 4th quarter. Sigma Planning Corp now owns 9,460 shares of the financial services provider’s stock valued at $1,433,000 after buying an additional 68 shares during the last quarter. Finally, Optimum Investment Advisors raised its stake in iShares Nasdaq Biotechnology ETF by 1.7% during the 4th quarter. Optimum Investment Advisors now owns 4,291 shares of the financial services provider’s stock valued at $650,000 after buying an additional 73 shares during the last quarter. 79.80% of the stock is currently owned by hedge funds and other institutional investors.

Shares of IBB opened at $148.85 on Thursday. The firm has a fifty day simple moving average of $154.90 and a two-hundred day simple moving average of $152.85. iShares Nasdaq Biotechnology ETF has a 1-year low of $109.36 and a 1-year high of $174.04.

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.

Recommended Story: What defines an oversold asset?

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)

Receive News & Ratings for iShares Nasdaq Biotechnology ETF Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for iShares Nasdaq Biotechnology ETF and related companies with MarketBeat.com's FREE daily email newsletter.