Traders Buy Shares of iShares Nasdaq Biotechnology ETF (IBB) on Weakness

Traders purchased shares of iShares Nasdaq Biotechnology ETF (NASDAQ:IBB) on weakness during trading hours on Friday. $151.93 million flowed into the stock on the tick-up and $31.87 million flowed out of the stock on the tick-down, for a money net flow of $120.06 million into the stock. Of all stocks tracked, iShares Nasdaq Biotechnology ETF had the 5th highest net in-flow for the day. iShares Nasdaq Biotechnology ETF traded down ($0.64) for the day and closed at $116.73

Several hedge funds and other institutional investors have recently modified their holdings of the company. Glenview Trust Co purchased a new position in iShares Nasdaq Biotechnology ETF in the second quarter valued at about $383,000. Midwest Professional Planners LTD. purchased a new position in iShares Nasdaq Biotechnology ETF in the second quarter valued at about $253,000. Northwestern Mutual Wealth Management Co. boosted its holdings in iShares Nasdaq Biotechnology ETF by 9.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 20,743 shares of the financial services provider’s stock valued at $2,278,000 after purchasing an additional 1,742 shares during the last quarter. ING Groep NV purchased a new position in iShares Nasdaq Biotechnology ETF in the second quarter valued at about $549,000. Finally, Commerzbank Aktiengesellschaft FI boosted its holdings in iShares Nasdaq Biotechnology ETF by 54.0% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 585,506 shares of the financial services provider’s stock valued at $64,300,000 after purchasing an additional 205,200 shares during the last quarter. 59.52% of the stock is owned by institutional investors.

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.

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