LPL Financial LLC Cuts Stock Position in iShares Biotechnology ETF (NASDAQ:IBB)

LPL Financial LLC lessened its holdings in iShares Biotechnology ETF (NASDAQ:IBB) by 3.7% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 403,863 shares of the financial services provider’s stock after selling 15,734 shares during the period. LPL Financial LLC owned 0.92% of iShares Biotechnology ETF worth $51,654,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of IBB. Bank of America Corp DE grew its position in shares of iShares Biotechnology ETF by 6.5% during the fourth quarter. Bank of America Corp DE now owns 7,489,427 shares of the financial services provider’s stock valued at $990,177,000 after purchasing an additional 460,154 shares in the last quarter. Focus Partners Wealth grew its position in shares of iShares Biotechnology ETF by 168.2% during the fourth quarter. Focus Partners Wealth now owns 121,996 shares of the financial services provider’s stock valued at $16,485,000 after purchasing an additional 76,509 shares in the last quarter. Madrona Financial Services LLC grew its position in shares of iShares Biotechnology ETF by 153.0% during the first quarter. Madrona Financial Services LLC now owns 81,150 shares of the financial services provider’s stock valued at $10,379,000 after purchasing an additional 49,075 shares in the last quarter. GAMMA Investing LLC grew its position in shares of iShares Biotechnology ETF by 12,698.7% during the first quarter. GAMMA Investing LLC now owns 48,251 shares of the financial services provider’s stock valued at $6,171,000 after purchasing an additional 47,874 shares in the last quarter. Finally, GTS Securities LLC grew its position in shares of iShares Biotechnology ETF by 3,266.0% during the fourth quarter. GTS Securities LLC now owns 46,720 shares of the financial services provider’s stock valued at $6,175,000 after purchasing an additional 45,332 shares in the last quarter. Hedge funds and other institutional investors own 62.45% of the company’s stock.

iShares Biotechnology ETF Stock Performance

Shares of iShares Biotechnology ETF stock opened at $132.76 on Friday. The business has a 50-day moving average price of $128.36 and a 200-day moving average price of $128.98. iShares Biotechnology ETF has a twelve month low of $107.43 and a twelve month high of $150.57.

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.