Brookstone Capital Management Reduces Stake in iShares Biotechnology ETF

Brookstone Capital Management has recently announced a significant reduction in its holdings of the iShares Biotechnology ETF (NASDAQ: IBB). According to the latest Form 13F filing with the Securities and Exchange Commission (SEC), the institutional investor decreased its position by an impressive 55.2% during the third quarter of the year. Following this sell-off, Brookstone Capital Management now possesses a total of 9,007 shares of the ETF after divesting 11,110 shares within that quarter.

As per the latest filing, the value of Brookstone's holdings in the iShares Biotechnology ETF stood at approximately $1,311,000. This transaction indicates a strategic move by the firm as it adjusts its investment portfolio.

Additionally, several other hedge funds have made notable changes to their investments in the iShares Biotechnology ETF recently. For instance, Marion Wealth Management enhanced its stake by 4.3% in the third quarter, bringing its total shares to 19,221, valued at around $2,799,000 after adding 792 shares. Meanwhile, KWB Wealth increased its holdings by 8.6%, now owning 4,145 shares worth approximately $569,000 after acquiring 329 additional shares.

Thrive Wealth Management LLC also entered a new position in the iShares Biotechnology ETF during the third quarter, valued at about $445,000. Similarly, Park Avenue Securities LLC took a new position worth around $218,000, while SG Americas Securities LLC raised its holdings by 16.4%, accumulating 15,764 shares worth about $2,295,000 after a purchase of 2,223 shares this past quarter. Overall, about 62.45% of the ETF’s shares are currently held by hedge funds and other institutional investors.

Recent Trading Trends

The iShares Biotechnology ETF has seen some trading activity lately, opening at $145.59 on the recent Friday. The ETF has displayed a fifty-day simple moving average of $145.12 alongside a two-hundred day simple moving average of $139.34. Over the past year, the ETF has fluctuated between a low of $111.83 and a high of $150.57.

Dividend Information

The iShares Biotechnology ETF also recently declared a dividend, which was disbursed on Monday, September 30th. Shareholders who were on record as of Wednesday, September 25th received a dividend payment of $0.2005. The ex-dividend date was set for the same Wednesday, September 25th.

About iShares Biotechnology ETF

The iShares Nasdaq Biotechnology ETF, formerly known as the iShares Nasdaq Biotechnology Index Fund, operates as an exchange-traded fund (ETF) that aims to replicate the price and yield performance of the NASDAQ Biotechnology Index. This Index encompasses securities of NASDAQ-listed companies classified in the biotechnology or pharmaceutical sectors, adhering to further eligibility criteria set by NASDAQ.

Final Thoughts

This recent shift in Brookstone Capital Management's investment strategy, along with movements from other institutional investors, reflects the dynamic nature of the biotechnology sector and the ongoing assessments being made regarding investment opportunities within this field.

ETF, Investment, Biotechnology