Adell Harriman & Carpenter Inc. Decreases Position in iShares Biotechnology ETF (NASDAQ:IBB)

Adell Harriman & Carpenter Inc. trimmed its stake in shares of iShares Biotechnology ETF (NASDAQ:IBB) by 17.3% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,198 shares of the financial services provider’s stock after selling 1,718 shares during the period. Adell Harriman & Carpenter Inc.’s holdings in iShares Biotechnology ETF were worth $1,125,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in IBB. International Assets Investment Management LLC purchased a new stake in iShares Biotechnology ETF during the fourth quarter valued at approximately $563,000. Great Valley Advisor Group Inc. increased its holdings in iShares Biotechnology ETF by 14.1% during the fourth quarter. Great Valley Advisor Group Inc. now owns 2,786 shares of the financial services provider’s stock valued at $378,000 after buying an additional 344 shares during the last quarter. First Horizon Advisors Inc. increased its holdings in iShares Biotechnology ETF by 5.5% during the fourth quarter. First Horizon Advisors Inc. now owns 2,193 shares of the financial services provider’s stock valued at $298,000 after buying an additional 115 shares during the last quarter. Axxcess Wealth Management LLC increased its holdings in iShares Biotechnology ETF by 55.3% during the fourth quarter. Axxcess Wealth Management LLC now owns 6,486 shares of the financial services provider’s stock valued at $881,000 after buying an additional 2,310 shares during the last quarter. Finally, TCG Advisory Services LLC purchased a new stake in iShares Biotechnology ETF during the fourth quarter valued at approximately $268,000. 62.45% of the stock is owned by hedge funds and other institutional investors.

iShares Biotechnology ETF Stock Up 0.7 %

IBB stock traded up $1.03 during midday trading on Tuesday, reaching $149.20. 106,729 shares of the company’s stock traded hands, compared to its average volume of 1,536,247. iShares Biotechnology ETF has a 52-week low of $111.83 and a 52-week high of $150.17. The stock’s 50-day moving average is $143.60 and its 200 day moving average is $137.77.

iShares Biotechnology ETF 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.