iShares Biotechnology ETF (NASDAQ:IBB) Sees Significant Decrease in Short Interest

iShares Biotechnology ETF (NASDAQ:IBB) was the recipient of a large decline in short interest in the month of August. As of August 15th, there was short interest totalling 10,140,000 shares, a decline of 7.2% from the July 31st total of 10,930,000 shares. Based on an average trading volume of 1,313,400 shares, the short-interest ratio is currently 7.7 days.

Hedge Funds Weigh In On iShares Biotechnology ETF

Hedge funds and other institutional investors have recently bought and sold shares of the company. International Assets Investment Management LLC acquired a new position in shares of iShares Biotechnology ETF during the fourth quarter worth about $563,000. Great Valley Advisor Group Inc. increased its position in iShares Biotechnology ETF by 14.1% during the 4th quarter. Great Valley Advisor Group Inc. now owns 2,786 shares of the financial services provider’s stock worth $378,000 after purchasing an additional 344 shares during the period. First Horizon Advisors Inc. raised its stake in shares of iShares Biotechnology ETF by 5.5% during the 4th quarter. First Horizon Advisors Inc. now owns 2,193 shares of the financial services provider’s stock worth $298,000 after buying an additional 115 shares in the last quarter. Axxcess Wealth Management LLC lifted its holdings in shares of iShares Biotechnology ETF by 55.3% in the 4th 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 period. Finally, TCG Advisory Services LLC purchased a new stake in shares of iShares Biotechnology ETF in the fourth quarter valued at approximately $268,000. 62.45% of the stock is currently owned by hedge funds and other institutional investors.

iShares Biotechnology ETF Price Performance

NASDAQ:IBB opened at $145.66 on Wednesday. iShares Biotechnology ETF has a 12-month low of $111.83 and a 12-month high of $150.17. The stock’s 50 day simple moving average is $143.72 and its 200-day simple moving average is $137.84.

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.