iShares NASDAQ Biotechnology Index (IBB) Holding Trimmed by Comerica Securities Inc.

iShares NASDAQ Biotechnology Index (IBB) Holding Trimmed by Comerica Securities Inc.

Comerica Securities Inc. cut its stake in iShares NASDAQ Biotechnology Index (NASDAQ:IBB) by 13.8% during the first quarter, Holdings Channel reports. The firm owned 994 shares of the financial services provider’s stock after selling 159 shares during the period. Comerica Securities Inc.’s holdings in iShares NASDAQ Biotechnology Index were worth $292,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Tarbox Group Inc. purchased a new stake in shares of iShares NASDAQ Biotechnology Index during the first quarter valued at $104,000. Sei Investments Co. raised its stake in shares of iShares NASDAQ Biotechnology Index by 297.0% in the first quarter. Sei Investments Co. now owns 401 shares of the financial services provider’s stock valued at $118,000 after buying an additional 300 shares during the period. YorkBridge Wealth Partners LLC raised its stake in shares of iShares NASDAQ Biotechnology Index by 174.8% in the first quarter. YorkBridge Wealth Partners LLC now owns 448 shares of the financial services provider’s stock valued at $134,000 after buying an additional 285 shares during the period. Founders Capital Management purchased a new stake in shares of iShares NASDAQ Biotechnology Index during the first quarter valued at $150,000. Finally, FTB Advisors Inc. purchased a new stake in shares of iShares NASDAQ Biotechnology Index during the first quarter valued at $189,000. 59.91% of the stock is owned by institutional investors.

iShares NASDAQ Biotechnology Index (NASDAQ IBB) traded up 1.68% on Friday, reaching $295.79. The company’s stock had a trading volume of 1,100,286 shares. The stock has a 50-day moving average of $292.18 and a 200-day moving average of $285.62. iShares NASDAQ Biotechnology Index has a one year low of $240.30 and a one year high of $303.74.

A number of research analysts have weighed in on IBB shares. Vetr raised iShares NASDAQ Biotechnology Index from a “hold” rating to a “buy” rating and set a $303.00 target price for the company in a report on Wednesday, May 17th. Credit Suisse Group AG raised iShares NASDAQ Biotechnology Index from a “market weight” rating to an “overweight” rating in a report on Tuesday, March 21st. They noted that the move was a valuation call.

About iShares NASDAQ Biotechnology Index

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:IBB”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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