M&R Capital Management Inc. Cuts Holdings in iShares Biotechnology ETF (NASDAQ:IBB)

M&R Capital Management Inc. trimmed its stake in iShares Biotechnology ETF (NASDAQ:IBB – Get Rating) by 1.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,151 shares of the financial services provider’s stock after selling 219 shares during the quarter. M&R Capital Management Inc.’s holdings in iShares Biotechnology ETF were worth $2,252,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Apollon Wealth Management LLC boosted its stake in iShares Biotechnology ETF by 0.8% in the third quarter. Apollon Wealth Management LLC now owns 10,445 shares of the financial services provider’s stock valued at $1,222,000 after acquiring an additional 83 shares during the last quarter. Hudock Inc. boosted its stake in iShares Biotechnology ETF by 0.9% in the third quarter. Hudock Inc. now owns 9,623 shares of the financial services provider’s stock valued at $1,125,000 after acquiring an additional 84 shares during the last quarter. Personal Capital Advisors Corp boosted its stake in iShares Biotechnology ETF by 3.2% in the third quarter. Personal Capital Advisors Corp now owns 2,877 shares of the financial services provider’s stock valued at $336,000 after acquiring an additional 88 shares during the last quarter. Patriot Financial Group Insurance Agency LLC boosted its stake in iShares Biotechnology ETF by 1.5% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 5,868 shares of the financial services provider’s stock valued at $686,000 after acquiring an additional 89 shares during the last quarter. Finally, Synovus Financial Corp boosted its stake in iShares Biotechnology ETF by 0.7% in the second quarter. Synovus Financial Corp now owns 12,862 shares of the financial services provider’s stock valued at $1,514,000 after acquiring an additional 94 shares during the last quarter. 58.02% of the stock is currently owned by hedge funds and other institutional investors.

iShares Biotechnology ETF Stock Down 1.8 %

IBB traded down $2.24 during midday trading on Friday, reaching $124.50. The company had a trading volume of 2,630,843 shares, compared to its average volume of 1,594,135. The business has a 50-day moving average price of $131.94 and a two-hundred day moving average price of $128.93. iShares Biotechnology ETF has a 12-month low of $104.29 and a 12-month high of $138.74.

About iShares Biotechnology ETF

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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.