Knightsbridge Asset Management LLC Reduces Stock Position in iShares Biotechnology ETF $IBB

Knightsbridge Asset Management LLC cut its stake in iShares Biotechnology ETF (NASDAQ:IBB) by 16.6% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 6,690 shares of the financial services provider’s stock after selling 1,335 shares during the quarter. Knightsbridge Asset Management LLC’s holdings in iShares Biotechnology ETF were worth $856,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of IBB. Citigroup Inc. lifted its holdings in iShares Biotechnology ETF by 88.5% in the first quarter. Citigroup Inc. now owns 3,208,144 shares of the financial services provider’s stock worth $410,322,000 after buying an additional 1,505,976 shares during the period. Millennium Management LLC lifted its holdings in iShares Biotechnology ETF by 140.8% in the first quarter. Millennium Management LLC now owns 41,676 shares of the financial services provider’s stock worth $5,330,000 after buying an additional 143,893 shares during the period. Jones Financial Companies Lllp lifted its holdings in iShares Biotechnology ETF by 763.3% in the first quarter. Jones Financial Companies Lllp now owns 151,265 shares of the financial services provider’s stock worth $19,347,000 after buying an additional 133,744 shares during the period. Focus Partners Wealth lifted its holdings in iShares Biotechnology ETF by 168.2% in the fourth quarter. Focus Partners Wealth now owns 121,996 shares of the financial services provider’s stock worth $16,485,000 after buying an additional 76,509 shares during the period. Finally, Madrona Financial Services LLC lifted its holdings in iShares Biotechnology ETF by 153.0% in the first quarter. Madrona Financial Services LLC now owns 81,150 shares of the financial services provider’s stock worth $10,379,000 after buying an additional 49,075 shares during the period. 62.45% of the stock is currently owned by hedge funds and other institutional investors.

iShares Biotechnology ETF Stock Performance

Shares of IBB opened at $143.12 on Friday. iShares Biotechnology ETF has a one year low of $107.43 and a one year high of $150.57. The company has a 50-day simple moving average of $134.34 and a two-hundred day simple moving average of $128.97.

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.