Short Interest in iShares Nasdaq Biotechnology ETF (IBB) Drops By 19.7%

iShares Nasdaq Biotechnology ETF (NASDAQ:IBB) was the target of a large decline in short interest in the month of October. As of October 31st, there was short interest totalling 9,009,619 shares, a decline of 19.7% from the October 15th total of 11,225,887 shares. Based on an average daily volume of 2,731,754 shares, the short-interest ratio is currently 3.3 days.

Shares of iShares Nasdaq Biotechnology ETF stock opened at $107.73 on Friday. iShares Nasdaq Biotechnology ETF has a one year low of $100.22 and a one year high of $122.97.

Institutional investors have recently made changes to their positions in the business. Schroder Investment Management Group purchased a new position in iShares Nasdaq Biotechnology ETF in the 2nd quarter worth approximately $105,000. Benjamin F. Edwards & Company Inc. increased its stake in iShares Nasdaq Biotechnology ETF by 636.4% in the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 891 shares of the financial services provider’s stock worth $109,000 after purchasing an additional 770 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new position in iShares Nasdaq Biotechnology ETF in the 2nd quarter worth approximately $134,000. KHP Capital LLC increased its stake in iShares Nasdaq Biotechnology ETF by 61.1% in the 2nd quarter. KHP Capital LLC now owns 1,450 shares of the financial services provider’s stock worth $159,000 after purchasing an additional 550 shares during the period. Finally, Private Wealth Advisors Inc. purchased a new position in iShares Nasdaq Biotechnology ETF in the 2nd quarter worth approximately $201,000. 63.62% of the stock is currently owned by institutional investors and hedge funds.

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About iShares Nasdaq Biotechnology ETF

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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