Brookstone Capital Management Reduces Stake in iShares Biotechnology ETF

In a recent filing with the Securities and Exchange Commission, Brookstone Capital Management reported a significant reduction in its holdings of the iShares Biotechnology ETF (NASDAQ:IBB). During the third quarter, the investment firm decreased its position by 55.2%, selling 11,110 shares to end up with 9,007 shares. The remaining shares held by Brookstone Capital Management are valued at approximately $1,311,000, based on their latest filing.

Other institutional investors have also made adjustments to their positions in iShares Biotechnology ETF. Marion Wealth Management, for example, increased its stake by 4.3% in the third quarter, accumulating a total of 19,221 shares, which are now valued at around $2,799,000 after acquiring an additional 792 shares. Similarly, KWB Wealth boosted its holdings by 8.6%, bringing its total to 4,145 shares worth $569,000 after purchasing 329 more shares.

Thrive Wealth Management LLC entered the fray by establishing a new position valued at approximately $445,000 during the same period. Park Avenue Securities LLC also acquired a new stake in the ETF, estimated at around $218,000. Moreover, SG Americas Securities LLC enhanced its holdings by 16.4%, now owning 15,764 shares valued at about $2,295,000 after acquiring an additional 2,223 shares last quarter. Overall, hedge funds and other institutional investors currently hold approximately 62.45% of the ETF's stock.

Current Performance of iShares Biotechnology ETF

On Friday, iShares Biotechnology ETF shares opened at $145.59. The ETF exhibits a fifty-day simple moving average of $145.12 and a two-hundred-day moving average of $139.34. Over the past year, the ETF has reached a low of $111.83 and a high of $150.57, reflecting a notable range in its trading performance.

Recent Dividend Declaration

The company recently declared a dividend, with payments distributed on Monday, September 30th. Shareholders who were on record as of Wednesday, September 25th, received a dividend of $0.2005. Notably, the ex-dividend date, which marks the cutoff for receiving the dividend, also fell on September 25th.

About iShares Biotechnology ETF

The iShares Nasdaq Biotechnology ETF (also referred to as the Fund) was formerly known as the iShares Nasdaq Biotechnology Index Fund. The Fund aims to replicate investment results that align with the performance of the NASDAQ Biotechnology Index. This index includes securities from companies listed on NASDAQ that fit the biotechnology or pharmaceutical classification and meet other eligibility criteria set forth by NASDAQ.

Conclusion

The recent changes in Brookstone Capital Management's stake, along with adjustments by other investors, underscore the dynamic nature of the iShares Biotechnology ETF. As investors take a keen interest in biotech sector developments, the ETF remains a point of focus in the financial markets.

investment, ETF, biotech