AlphaStar Capital Management LLC Purchases Shares of 5,107 iShares Nasdaq Biotechnology ETF (NASDAQ:IBB)

AlphaStar Capital Management LLC purchased a new stake in shares of iShares Nasdaq Biotechnology ETF (NASDAQ:IBB) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 5,107 shares of the financial services provider’s stock, valued at approximately $702,000.

A number of other hedge funds have also made changes to their positions in IBB. Cullen Frost Bankers Inc. acquired a new stake in iShares Nasdaq Biotechnology ETF in the second quarter worth about $41,000. Watson Rebecca bought a new stake in iShares Nasdaq Biotechnology ETF in the second quarter worth about $43,000. Clear Harbor Asset Management LLC bought a new stake in iShares Nasdaq Biotechnology ETF in the third quarter worth about $45,000. Hoover Financial Advisors Inc. bought a new stake in iShares Nasdaq Biotechnology ETF in the second quarter worth about $46,000. Finally, Cordasco Financial Network bought a new stake in iShares Nasdaq Biotechnology ETF in the third quarter worth about $50,000. 82.54% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ IBB traded down $2.44 on Friday, hitting $130.62. 3,326,847 shares of the company were exchanged, compared to its average volume of 3,357,856. The company’s 50 day moving average price is $136.02 and its 200-day moving average price is $133.54. iShares Nasdaq Biotechnology ETF has a twelve month low of $92.15 and a twelve month high of $146.53.

Separately, ValuEngine upgraded shares of iShares Nasdaq Biotechnology ETF from a “sell” rating to a “hold” rating in a research report on Friday, October 2nd.

iShares Nasdaq 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.

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

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