Concord Investment Counsel Inc. Acquires New Position in iShares Biotechnology ETF (NASDAQ:IBB)

Concord Investment Counsel Inc. purchased a new stake in iShares Biotechnology ETF (NASDAQ:IBB) during the first quarter, HoldingsChannel.com reports. The firm purchased 32,975 shares of the financial services provider’s stock, valued at approximately $4,525,000. iShares Biotechnology ETF accounts for 1.6% of Concord Investment Counsel Inc.’s holdings, making the stock its 19th largest holding.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Future Financial Wealth Managment LLC acquired a new stake in iShares Biotechnology ETF during the 1st quarter worth $27,000. Pacifica Partners Inc. raised its position 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 worth $33,000 after purchasing an additional 130 shares during the period. Crewe Advisors LLC lifted its holdings in shares of 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 purchasing an additional 78 shares in the last quarter. YHB Investment Advisors Inc. acquired a new position in shares of iShares Biotechnology ETF in the 1st quarter valued at approximately $37,000. Finally, Northwest Financial Advisors bought a new stake in iShares Biotechnology ETF during the 4th quarter worth approximately $42,000. 62.45% of the stock is currently owned by institutional investors.

iShares Biotechnology ETF Stock Performance

IBB traded up $0.98 during trading on Friday, reaching $144.83. The company had a trading volume of 982,818 shares, compared to its average volume of 1,622,053. iShares Biotechnology ETF has a 12 month low of $111.83 and a 12 month high of $146.31. The business’s fifty day moving average price is $136.24 and its 200 day moving average price is $135.25.

About iShares 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.