Investors Purchase Large Volume of iShares Biotechnology ETF Put Options (NASDAQ:IBB)

iShares Biotechnology ETF (NASDAQ:IBB) was the recipient of unusually large options trading on Tuesday. Traders acquired 36,759 put options on the company. This is an increase of approximately 479% compared to the average daily volume of 6,354 put options.

Institutional Trading of iShares Biotechnology ETF

A number of institutional investors have recently made changes to their positions in IBB. International Assets Investment Management LLC purchased a new position in iShares Biotechnology ETF in the 4th quarter worth $563,000. Tennessee Valley Asset Management Partners purchased a new position in shares of iShares Biotechnology ETF during the 4th quarter valued at about $44,000. abrdn plc purchased a new position in shares of iShares Biotechnology ETF during the 4th quarter valued at about $5,928,000. Signaturefd LLC raised its stake in shares of iShares Biotechnology ETF by 14.2% during the 4th quarter. Signaturefd LLC now owns 1,120 shares of the financial services provider’s stock valued at $152,000 after buying an additional 139 shares during the last quarter. Finally, Klingenstein Fields & Co. LP purchased a new position in shares of iShares Biotechnology ETF during the 4th quarter valued at about $216,000. Institutional investors and hedge funds own 62.45% of the company’s stock.

iShares Biotechnology ETF Price Performance

iShares Biotechnology ETF stock opened at $147.38 on Wednesday. iShares Biotechnology ETF has a 1-year low of $111.83 and a 1-year high of $150.17. The business has a fifty day moving average price of $141.56 and a 200-day moving average price of $136.94.

About iShares Biotechnology ETF

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.