iShares Nasdaq Biotechnology ETF (NASDAQ:IBB) Hits New 12-Month High at $120.36

iShares Nasdaq Biotechnology ETF (NASDAQ:IBB) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $120.36 and last traded at $120.30, with a volume of 1110281 shares changing hands. The stock had previously closed at $119.15.

Separately, ValuEngine cut iShares Nasdaq Biotechnology ETF from a “buy” rating to a “hold” rating in a report on Tuesday, October 22nd.

The business has a 50-day moving average of $110.32 and a 200 day moving average of $105.71.

Several institutional investors have recently made changes to their positions in IBB. Great Valley Advisor Group Inc. lifted its position in iShares Nasdaq Biotechnology ETF by 26.4% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 2,271 shares of the financial services provider’s stock worth $248,000 after acquiring an additional 475 shares during the period. Capital Planning Advisors LLC acquired a new position in iShares Nasdaq Biotechnology ETF during the third quarter valued at approximately $36,000. Cetera Advisor Networks LLC lifted its stake in iShares Nasdaq Biotechnology ETF by 0.3% in the second quarter. Cetera Advisor Networks LLC now owns 57,742 shares of the financial services provider’s stock valued at $6,301,000 after acquiring an additional 199 shares during the last quarter. Essex Savings Bank lifted its stake in iShares Nasdaq Biotechnology ETF by 114.1% in the 2nd quarter. Essex Savings Bank now owns 4,503 shares of the financial services provider’s stock valued at $491,000 after purchasing an additional 2,400 shares during the last quarter. Finally, Bray Capital Advisors lifted its position in shares of iShares Nasdaq Biotechnology ETF by 11.2% in the second quarter. Bray Capital Advisors now owns 20,427 shares of the financial services provider’s stock valued at $2,229,000 after buying an additional 2,051 shares during the last quarter. 82.74% of the stock is owned by hedge funds and other institutional investors.

About iShares Nasdaq Biotechnology ETF (NASDAQ:IBB)

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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