ValuEngine Lowers iShares Nasdaq Biotechnology ETF (NASDAQ:IBB) to Hold

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iShares Nasdaq Biotechnology ETF (NASDAQ:IBB) was downgraded by equities research analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued on Tuesday, ValuEngine reports.

NASDAQ IBB traded up $1.72 during trading on Tuesday, hitting $105.30. The company had a trading volume of 4,400,569 shares, compared to its average volume of 2,412,538. The company’s fifty day moving average is $101.88 and its 200-day moving average is $104.86. iShares Nasdaq Biotechnology ETF has a one year low of $89.01 and a one year high of $116.25.

Institutional investors have recently modified their holdings of the stock. Diligent Investors LLC increased its stake in iShares Nasdaq Biotechnology ETF by 28.6% during the 3rd quarter. Diligent Investors LLC now owns 4,501 shares of the financial services provider’s stock valued at $448,000 after purchasing an additional 1,000 shares in the last quarter. Horan Capital Advisors LLC. purchased a new stake in shares of iShares Nasdaq Biotechnology ETF during the 3rd quarter valued at about $34,000. John G Ullman & Associates Inc. purchased a new stake in shares of iShares Nasdaq Biotechnology ETF during the 3rd quarter valued at about $289,000. Whittier Trust Co. boosted its holdings in shares of iShares Nasdaq Biotechnology ETF by 3.6% during the 3rd quarter. Whittier Trust Co. now owns 7,234 shares of the financial services provider’s stock valued at $720,000 after acquiring an additional 250 shares during the last quarter. Finally, Park Avenue Securities LLC purchased a new stake in shares of iShares Nasdaq Biotechnology ETF during the 3rd quarter valued at about $416,000. Institutional investors own 79.01% of the company’s stock.

iShares Nasdaq Biotechnology ETF Company 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.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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