81,760 Shares in iShares Biotechnology ETF $IBB Acquired by Potomac Fund Management Inc. ADV

Potomac Fund Management Inc. ADV bought a new position in iShares Biotechnology ETF (NASDAQ:IBB) during the fourth quarter, Holdings Channel.com reports. The fund bought 81,760 shares of the financial services provider’s stock, valued at approximately $13,799,000. iShares Biotechnology ETF accounts for approximately 0.5% of Potomac Fund Management Inc. ADV’s investment portfolio, making the stock its 19th largest position.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Darwin Wealth Management LLC bought a new stake in shares of iShares Biotechnology ETF in the 2nd quarter worth approximately $25,000. Basepoint Wealth LLC bought a new stake in shares of iShares Biotechnology ETF in the 4th quarter worth approximately $26,000. Cary Street Partners Financial LLC bought a new stake in shares of iShares Biotechnology ETF in the 4th quarter worth approximately $29,000. Copia Wealth Management bought a new stake in shares of iShares Biotechnology ETF in the 4th quarter worth approximately $34,000. Finally, Cornerstone Planning Group LLC bought a new stake in shares of iShares Biotechnology ETF in the 4th quarter worth approximately $35,000. 62.45% of the stock is currently owned by institutional investors.

iShares Biotechnology ETF Stock Performance

NASDAQ IBB opened at $170.66 on Monday. The company’s 50 day simple moving average is $170.28 and its 200 day simple moving average is $170.66. iShares Biotechnology ETF has a 12 month low of $123.61 and a 12 month high of $179.64.

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.