Richmond Brothers Inc. Sells 959 Shares of iShares Biotechnology ETF (NASDAQ:IBB)

Richmond Brothers Inc. lowered its position in iShares Biotechnology ETF (NASDAQ:IBB) by 11.6% during the second quarter, HoldingsChannel.com reports. The firm owned 7,290 shares of the financial services provider’s stock after selling 959 shares during the quarter. iShares Biotechnology ETF makes up approximately 2.0% of Richmond Brothers Inc.’s holdings, making the stock its 9th largest holding. Richmond Brothers Inc.’s holdings in iShares Biotechnology ETF were worth $1,001,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Future Financial Wealth Managment LLC purchased a new position in iShares Biotechnology ETF in the first quarter valued at about $27,000. Bbjs Financial Advisors LLC bought a new stake in shares of iShares Biotechnology ETF during the 2nd quarter worth about $31,000. Pacifica Partners Inc. boosted its stake in shares of iShares Biotechnology ETF by 118.2% during the 1st quarter. Pacifica Partners Inc. now owns 240 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 130 shares in the last quarter. YHB Investment Advisors Inc. bought a new stake in shares of iShares Biotechnology ETF during the 1st quarter worth about $37,000. Finally, Mather Group LLC. bought a new stake in shares of iShares Biotechnology ETF during the 1st quarter worth about $57,000. Hedge funds and other institutional investors own 62.45% of the company’s stock.

iShares Biotechnology ETF Trading Down 0.2 %

IBB opened at $147.52 on Thursday. The stock has a 50-day moving average of $145.63 and a 200-day moving average of $138.47. iShares Biotechnology ETF has a 52-week low of $111.83 and a 52-week high of $150.17.

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.