Traders Buy iShares NASDAQ Biotechnology Index (IBB) on Weakness

Traders purchased shares of iShares NASDAQ Biotechnology Index (NASDAQ:IBB) on weakness during trading hours on Tuesday. $146.29 million flowed into the stock on the tick-up and $104.12 million flowed out of the stock on the tick-down, for a money net flow of $42.17 million into the stock. Of all companies tracked, iShares NASDAQ Biotechnology Index had the 21st highest net in-flow for the day. iShares NASDAQ Biotechnology Index traded down ($2.23) for the day and closed at $116.27

Institutional investors and hedge funds have recently modified their holdings of the company. Crestwood Advisors Group LLC increased its stake in shares of iShares NASDAQ Biotechnology Index by 1.6% in the 3rd quarter. Crestwood Advisors Group LLC now owns 69,893 shares of the financial services provider’s stock valued at $23,316,000 after purchasing an additional 1,107 shares during the last quarter. Atlantic Trust Group LLC increased its stake in shares of iShares NASDAQ Biotechnology Index by 12.4% in the 3rd quarter. Atlantic Trust Group LLC now owns 20,642 shares of the financial services provider’s stock valued at $6,887,000 after purchasing an additional 2,280 shares during the last quarter. NEXT Financial Group Inc increased its stake in shares of iShares NASDAQ Biotechnology Index by 179.1% in the 4th quarter. NEXT Financial Group Inc now owns 5,026 shares of the financial services provider’s stock valued at $537,000 after purchasing an additional 3,225 shares during the last quarter. Burns J W & Co. Inc. NY increased its stake in shares of iShares NASDAQ Biotechnology Index by 187.2% in the 4th quarter. Burns J W & Co. Inc. NY now owns 27,073 shares of the financial services provider’s stock valued at $2,891,000 after purchasing an additional 17,647 shares during the last quarter. Finally, Archford Capital Strategies LLC increased its stake in shares of iShares NASDAQ Biotechnology Index by 1,393.5% in the 2nd quarter. Archford Capital Strategies LLC now owns 64,087 shares of the financial services provider’s stock valued at $1,085,000 after purchasing an additional 59,796 shares during the last quarter. Institutional investors own 24.09% of the company’s stock.

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iShares NASDAQ Biotechnology Index 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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