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

EFG Asset Management Americas Corp. purchased a new position in iShares Nasdaq Biotechnology ETF (NASDAQ:IBB) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 1,520 shares of the financial services provider’s stock, valued at approximately $208,000.

Other large investors have also recently modified their holdings of the company. Triangle Securities Wealth Management boosted its position in shares of iShares Nasdaq Biotechnology ETF by 3.8% in the 2nd quarter. Triangle Securities Wealth Management now owns 2,067 shares of the financial services provider’s stock valued at $283,000 after purchasing an additional 75 shares during the period. Leavell Investment Management Inc. increased its position in shares of iShares Nasdaq Biotechnology ETF by 5.5% during the first quarter. Leavell Investment Management Inc. now owns 1,899 shares of the financial services provider’s stock worth $205,000 after acquiring an additional 99 shares during the last quarter. Evanson Asset Management LLC increased its position in shares of iShares Nasdaq Biotechnology ETF by 2.8% during the first quarter. Evanson Asset Management LLC now owns 3,727 shares of the financial services provider’s stock worth $402,000 after acquiring an additional 100 shares during the last quarter. Patriot Financial Group Insurance Agency LLC grew its stake in iShares Nasdaq Biotechnology ETF by 13.2% in the second quarter. Patriot Financial Group Insurance Agency LLC now owns 856 shares of the financial services provider’s stock worth $117,000 after purchasing an additional 100 shares in the last quarter. Finally, RDA Financial Network grew its stake in iShares Nasdaq Biotechnology ETF by 5.4% in the second quarter. RDA Financial Network now owns 2,100 shares of the financial services provider’s stock worth $287,000 after purchasing an additional 108 shares in the last quarter. 71.40% of the stock is currently owned by hedge funds and other institutional investors.

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

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

About iShares Nasdaq 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.

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

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