Wellington Shields Capital Management LLC Invests $294,000 in iShares Biotechnology ETF (NASDAQ:IBB)

Wellington Shields Capital Management LLC bought a new stake in iShares Biotechnology ETF (NASDAQ:IBB) during the first quarter, according to its most recent disclosure with the SEC. The firm bought 2,140 shares of the financial services provider’s stock, valued at approximately $294,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wellington Shields & Co. LLC acquired a new stake in shares of iShares Biotechnology ETF in the first quarter valued at approximately $220,000. Liberty Wealth Management LLC raised its position in iShares Biotechnology ETF by 4.9% in the 1st quarter. Liberty Wealth Management LLC now owns 4,159 shares of the financial services provider’s stock valued at $571,000 after purchasing an additional 193 shares during the last quarter. Mutual Advisors LLC boosted its stake in iShares Biotechnology ETF by 7.4% during the 1st quarter. Mutual Advisors LLC now owns 10,808 shares of the financial services provider’s stock worth $1,483,000 after purchasing an additional 747 shares during the period. Haverford Trust Co grew its position in iShares Biotechnology ETF by 15.8% during the 1st quarter. Haverford Trust Co now owns 5,177 shares of the financial services provider’s stock worth $710,000 after purchasing an additional 705 shares during the last quarter. Finally, Fidelis Capital Partners LLC purchased a new stake in shares of iShares Biotechnology ETF in the first quarter valued at about $441,000. 62.45% of the stock is currently owned by institutional investors and hedge funds.

iShares Biotechnology ETF Price Performance

Shares of IBB traded up $1.29 during mid-day trading on Wednesday, hitting $140.15. 536,817 shares of the company’s stock were exchanged, compared to its average volume of 1,611,532. iShares Biotechnology ETF has a fifty-two week low of $111.83 and a fifty-two week high of $141.16. The business’s 50 day moving average is $135.75 and its two-hundred day moving average is $135.15.

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.