Gerber Kawasaki Wealth & Investment Management boosted its stake in iShares Nasdaq Biotechnology Index Fund (NASDAQ:IBB) by 47.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,211 shares of the financial services provider’s stock after buying an additional 5,202 shares during the period. iShares Nasdaq Biotechnology Index Fund makes up about 2.0% of Gerber Kawasaki Wealth & Investment Management’s investment portfolio, making the stock its 17th largest position. Gerber Kawasaki Wealth & Investment Management’s holdings in iShares Nasdaq Biotechnology Index Fund were worth $4,659,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Seatown Holdings Pte. Ltd. purchased a new stake in iShares Nasdaq Biotechnology Index Fund during the first quarter valued at about $15,391,000. Janney Capital Management LLC raised its stake in iShares Nasdaq Biotechnology Index Fund by 34.6% in the first quarter. Janney Capital Management LLC now owns 110,807 shares of the financial services provider’s stock valued at $32,496,000 after buying an additional 28,503 shares during the last quarter. Ameriprise Financial Inc. raised its stake in iShares Nasdaq Biotechnology Index Fund by 36.9% in the first quarter. Ameriprise Financial Inc. now owns 104,855 shares of the financial services provider’s stock valued at $30,545,000 after buying an additional 28,288 shares during the last quarter. Harbour Investment Management LLC purchased a new stake in iShares Nasdaq Biotechnology Index Fund during the first quarter valued at about $4,559,000. Finally, CLS Investments LLC purchased a new stake in iShares Nasdaq Biotechnology Index Fund during the first quarter valued at about $3,226,000. Hedge funds and other institutional investors own 69.20% of the company’s stock.

Institutional Ownership by Quarter for iShares Nasdaq Biotechnology Index Fund (NASDAQ:IBB)

Shares of iShares Nasdaq Biotechnology Index Fund (NASDAQ:IBB) traded down 0.36% during trading on Friday, hitting $292.73. 747,545 shares of the company were exchanged. iShares Nasdaq Biotechnology Index Fund has a 1-year low of $240.30 and a 1-year high of $303.74. The company has a 50 day moving average of $292.95 and a 200-day moving average of $286.27.

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Several analysts have recently issued reports on IBB shares. Credit Suisse Group upgraded shares of iShares Nasdaq Biotechnology Index Fund from a “market weight” rating to an “overweight” rating in a research note on Tuesday, March 21st. They noted that the move was a valuation call. Vetr raised shares of iShares Nasdaq Biotechnology Index Fund from a “hold” rating to a “buy” rating and set a $300.66 price target on the stock in a report on Tuesday, April 18th.

About iShares Nasdaq Biotechnology Index Fund

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.

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