Tyche Wealth Partners LLC Decreases Holdings in iShares Biotechnology ETF (NASDAQ:IBB)

Tyche Wealth Partners LLC cut its stake in iShares Biotechnology ETF (NASDAQ:IBB) by 4.3% during the 1st quarter, HoldingsChannel reports. The firm owned 4,050 shares of the financial services provider’s stock after selling 182 shares during the quarter. Tyche Wealth Partners LLC’s holdings in iShares Biotechnology ETF were worth $518,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in IBB. Bank of America Corp DE boosted its position in shares of iShares Biotechnology ETF by 6.5% in the fourth quarter. Bank of America Corp DE now owns 7,489,427 shares of the financial services provider’s stock worth $990,177,000 after buying an additional 460,154 shares during the period. Raymond James Financial Inc. acquired a new position in iShares Biotechnology ETF during the 4th quarter worth approximately $55,010,000. Generali Investments CEE investicni spolecnost a.s. purchased a new position in iShares Biotechnology ETF in the 4th quarter worth approximately $11,370,000. Focus Partners Wealth boosted its stake in shares of iShares Biotechnology ETF by 168.2% in 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 during the period. Finally, Independent Advisor Alliance acquired a new stake in shares of iShares Biotechnology ETF during the fourth quarter valued at about $6,769,000. 62.45% of the stock is owned by hedge funds and other institutional investors.

iShares Biotechnology ETF Price Performance

IBB stock opened at $127.41 on Wednesday. The firm has a 50 day simple moving average of $123.21 and a 200-day simple moving average of $129.68. iShares Biotechnology ETF has a twelve month low of $107.43 and a twelve month high of $150.57.

iShares 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.