Brookstone Capital Management Reduces Stake in iShares Biotechnology ETF

Brookstone Capital Management has significantly reduced its stake in the iShares Biotechnology ETF (NASDAQ: IBB) by 55.2% during the third quarter of the year. This information comes from the firm's latest Form 13F filing with the Securities and Exchange Commission (SEC). As a result of this reduction, the institutional investor now holds a total of 9,007 shares in the ETF after selling 11,110 shares over the period.

Following the sale, Brookstone Capital Management's investment in the iShares Biotechnology ETF is valued at approximately $1,311,000 based on the current share price as of the filing date.

Other Institutional Movements

In addition to Brookstone, several other hedge funds have also made moves regarding their stakes in the iShares Biotechnology ETF. Marion Wealth Management increased its holdings in the ETF by 4.3% during the same quarter, bringing its total to 19,221 shares worth around $2,799,000 after purchasing an additional 792 shares.

KWB Wealth also expanded its position by 8.6%, now owning 4,145 shares valued at $569,000 after buying 329 new shares. Thrive Wealth Management LLC entered a new investment in the ETF, amounting to approximately $445,000. Park Avenue Securities LLC took a similar approach, investing about $218,000 into the ETF during the third quarter.

Lastly, SG Americas Securities LLC raised its stake by 16.4%, bringing its total holdings to 15,764 shares worth $2,295,000 after buying an additional 2,223 shares in the last quarter. Overall, hedge funds and other institutional investors collectively own 62.45% of the iShares Biotechnology ETF.

Current Trading Status of iShares Biotechnology ETF

As of Friday, shares of the iShares Biotechnology ETF opened at $145.59. Recent trading data reveals that the stock has a fifty-day moving average price of $145.12 and a two-hundred-day moving average of $139.34. The ETF has recorded a one-year low of $111.83 and a one-year high of $150.57.

Dividend Announcement from iShares Biotechnology ETF

The iShares Biotechnology ETF has also made headlines recently by announcing a dividend. This dividend was paid out on September 30th to shareholders who were on record as of September 25th and amounted to $0.2005. Notably, the ex-dividend date also fell on September 25th.

About iShares Biotechnology ETF

The iShares Nasdaq Biotechnology ETF, previously known as the iShares Nasdaq Biotechnology Index Fund, is an exchange-traded fund that aims to achieve investment results generally corresponding to the price and yield performance of the NASDAQ Biotechnology Index. This index consists of companies listed on the NASDAQ that are categorized as biotechnology or pharmaceuticals, meeting various eligibility criteria set by NASDAQ.

investment, ETF, stocks