Raymond James Financial Services Advisors Inc. boosted its position in iShares Nasdaq Biotechnology Index Fund (NASDAQ:IBB) by 4.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 56,798 shares of the financial services provider’s stock after buying an additional 2,308 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in iShares Nasdaq Biotechnology Index Fund were worth $16,659,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Janney Capital Management LLC boosted its position 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. Mycio Wealth Partners LLC boosted its position in iShares Nasdaq Biotechnology Index Fund by 6.2% in the first quarter. Mycio Wealth Partners LLC now owns 2,938 shares of the financial services provider’s stock valued at $861,000 after buying an additional 171 shares during the last quarter. Alexandria Capital LLC boosted its position in iShares Nasdaq Biotechnology Index Fund by 76.2% in the first quarter. Alexandria Capital LLC now owns 1,156 shares of the financial services provider’s stock valued at $339,000 after buying an additional 500 shares during the last quarter. Kelman Lazarov Inc. boosted its position in iShares Nasdaq Biotechnology Index Fund by 7.6% in the first quarter. Kelman Lazarov Inc. now owns 3,559 shares of the financial services provider’s stock valued at $1,044,000 after buying an additional 250 shares during the last quarter. Finally, Brouwer & Janachowski LLC acquired a new position in iShares Nasdaq Biotechnology Index Fund during the first quarter valued at approximately $376,000. 69.20% of the stock is owned by institutional investors and hedge funds.

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

iShares Nasdaq Biotechnology Index Fund (IBB) traded down 0.36% during midday trading on Friday, hitting $292.73. The stock had a trading volume of 747,545 shares. iShares Nasdaq Biotechnology Index Fund has a 1-year low of $240.30 and a 1-year high of $303.74. The stock’s 50-day moving average is $292.95 and its 200-day moving average is $286.27.

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Several equities research analysts have issued reports on IBB shares. Vetr lowered iShares Nasdaq Biotechnology Index Fund from a “buy” rating to a “hold” rating and set a $307.00 price target for the company. in a research note on Monday, June 5th. Credit Suisse Group raised 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.

iShares Nasdaq Biotechnology Index Fund Company 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.

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