Bangor Savings Bank Cuts Position in iShares Biotechnology ETF (NASDAQ:IBB)

Bangor Savings Bank cut its holdings in shares of iShares Biotechnology ETF (NASDAQ:IBB) by 9.1% during the 2nd quarter, HoldingsChannel reports. The fund owned 2,278 shares of the financial services provider’s stock after selling 229 shares during the quarter. Bangor Savings Bank’s holdings in iShares Biotechnology ETF were worth $313,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Future Financial Wealth Managment LLC bought a new stake in shares of iShares Biotechnology ETF during the 1st quarter valued at about $27,000. Pacifica Partners Inc. raised its holdings in shares of iShares Biotechnology ETF by 118.2% during the first quarter. Pacifica Partners Inc. now owns 240 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 130 shares during the last quarter. Crewe Advisors LLC raised its stake in iShares Biotechnology ETF by 42.9% during the 4th quarter. Crewe Advisors LLC now owns 260 shares of the financial services provider’s stock valued at $35,000 after buying an additional 78 shares during the last quarter. YHB Investment Advisors Inc. purchased a new stake in iShares Biotechnology ETF during the first quarter valued at $37,000. Finally, Northwest Financial Advisors bought a new position in shares of iShares Biotechnology ETF in the 4th quarter worth approximately $42,000. Hedge funds and other institutional investors own 62.45% of the company’s stock.

iShares Biotechnology ETF Trading Up 1.1 %

Shares of iShares Biotechnology ETF stock traded up $1.53 on Tuesday, hitting $143.09. 394,654 shares of the company’s stock were exchanged, compared to its average volume of 1,601,041. The company has a 50-day simple moving average of $140.57 and a 200-day simple moving average of $136.54. iShares Biotechnology ETF has a 1 year low of $111.83 and a 1 year high of $150.17.

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.