iShares Biotechnology ETF (NASDAQ:IBB) Shares Sold by Kovack Advisors Inc.

Kovack Advisors Inc. reduced its position in shares of iShares Biotechnology ETF (NASDAQ:IBB) by 7.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,904 shares of the financial services provider’s stock after selling 156 shares during the period. Kovack Advisors Inc.’s holdings in iShares Biotechnology ETF were worth $243,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Bank of America Corp DE grew its holdings in 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 worth $990,177,000 after acquiring an additional 460,154 shares during the period. Main Management ETF Advisors LLC grew its holdings in iShares Biotechnology ETF by 3.2% during the fourth quarter. Main Management ETF Advisors LLC now owns 612,180 shares of the financial services provider’s stock worth $80,936,000 after acquiring an additional 18,810 shares during the period. Focus Partners Wealth grew its holdings in 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 worth $16,485,000 after acquiring an additional 76,509 shares during the period. Madrona Financial Services LLC grew its holdings in 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 worth $10,379,000 after acquiring an additional 49,075 shares during the period. Finally, Appleton Partners Inc. MA grew its holdings in iShares Biotechnology ETF by 3.4% during the first quarter. Appleton Partners Inc. MA now owns 78,382 shares of the financial services provider’s stock worth $10,025,000 after acquiring an additional 2,579 shares during the period. 62.45% of the stock is owned by institutional investors and hedge funds.

iShares Biotechnology ETF Stock Up 0.1%

NASDAQ:IBB opened at $135.50 on Friday. The business’s 50-day moving average price is $127.48 and its 200 day moving average price is $128.99. iShares Biotechnology ETF has a 52-week low of $107.43 and a 52-week 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.