Brookstone Capital Management Reduces Stake in iShares Biotechnology ETF

Brookstone Capital Management has made significant adjustments to its holdings in the iShares Biotechnology ETF (NASDAQ:IBB). According to their latest Form 13F filed with the Securities and Exchange Commission, the institutional investor has reduced its position by 55.2% during the third quarter of the year. After selling 11,110 shares, Brookstone Capital Management now owns 9,007 shares of the ETF, which are valued at approximately $1,311,000.

Other hedge funds have also been active in adjusting their investments in the iShares Biotechnology ETF. For instance, Marion Wealth Management increased its stake by 4.3% during the same quarter, bringing its total to 19,221 shares valued at $2,799,000 after acquiring an additional 792 shares. Similarly, KWB Wealth raised its ownership by 8.6%, now holding 4,145 shares worth about $569,000, which included the purchase of 329 extra shares during the quarter.

Thrive Wealth Management LLC has recently entered the market by purchasing a new position in the iShares Biotechnology ETF estimated at around $445,000. Additionally, Park Avenue Securities LLC has acquired a new stake valued at about $218,000 in the same ETF. Meanwhile, SG Americas Securities LLC has fortified its holdings by 16.4%, increasing its ownership to 15,764 shares, worth roughly $2,295,000 after buying an additional 2,223 shares in the last quarter. Currently, institutional investors own 62.45% of the iShares Biotechnology ETF.

Current Performance of iShares Biotechnology ETF

As of the latest trading session, shares of the iShares Biotechnology ETF opened at $145.59. The ETF has recorded a 50-day simple moving average of $145.12 and a 200-day simple moving average of $139.34. Over the last year, the ETF has experienced a low of $111.83 and a peak of $150.57.

Dividend Information

The iShares Biotechnology ETF has also announced a dividend, which was paid out on September 30th. This dividend amounted to $0.2005, with the record date set for September 25th. The ex-dividend date for this payout was the same as the record date, September 25th.

About the iShares Biotechnology ETF

The iShares Nasdaq Biotechnology ETF, formerly known as the iShares Nasdaq Biotechnology Index Fund, aims to replicate the performance of the NASDAQ Biotechnology Index. This index includes securities from NASDAQ-listed companies that are categorized based on the Industry Classification Benchmark as either biotechnology or pharmaceuticals, subject to additional eligibility criteria set by NASDAQ.

Brookstone, Investment, IBB