TCP Asset Management LLC Has $212,000 Stake in iShares Biotechnology ETF (NASDAQ:IBB)

TCP Asset Management LLC reduced its position in shares of iShares Biotechnology ETF (NASDAQ:IBB) by 24.2% in the 1st quarter, HoldingsChannel.com reports. The firm owned 1,544 shares of the financial services provider’s stock after selling 492 shares during the quarter. TCP Asset Management LLC’s holdings in iShares Biotechnology ETF were worth $212,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Crewe Advisors LLC increased its position in iShares Biotechnology ETF by 42.9% during the 4th quarter. Crewe Advisors LLC now owns 260 shares of the financial services provider’s stock worth $35,000 after buying an additional 78 shares during the period. Apexium Financial LP increased its position in iShares Biotechnology ETF by 3.8% during the fourth quarter. Apexium Financial LP now owns 2,223 shares of the financial services provider’s stock worth $302,000 after acquiring an additional 82 shares during the period. Penbrook Management LLC raised its stake in iShares Biotechnology ETF by 2.3% in the 1st quarter. Penbrook Management LLC now owns 4,050 shares of the financial services provider’s stock worth $556,000 after purchasing an additional 90 shares in the last quarter. HB Wealth Management LLC boosted its holdings in iShares Biotechnology ETF by 5.9% in the 4th quarter. HB Wealth Management LLC now owns 1,892 shares of the financial services provider’s stock valued at $257,000 after purchasing an additional 105 shares during the period. Finally, Belpointe Asset Management LLC boosted its holdings in iShares Biotechnology ETF by 2.4% in the 3rd quarter. Belpointe Asset Management LLC now owns 4,588 shares of the financial services provider’s stock valued at $561,000 after purchasing an additional 108 shares during the period. 62.45% of the stock is currently owned by institutional investors.

iShares Biotechnology ETF Stock Down 0.7 %

Shares of IBB traded down $0.93 during mid-day trading on Wednesday, hitting $135.09. 1,045,826 shares of the company’s stock were exchanged, compared to its average volume of 1,631,982. iShares Biotechnology ETF has a 52 week low of $111.83 and a 52 week high of $141.16. The stock’s 50-day simple moving average is $134.94 and its 200-day simple moving average is $134.97.

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.