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The biotech sector, iShares Biotechnology ETF NASDAQ: IBB, has enjoyed steady buying lately, closing in the green for seven consecutive days. The recent rally comes after the sector ETF broke out of a tight consolidation after sharply bouncing from its 52-week low.
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Designed to provide broad exposure to the Health Care ETFs category of the market, the iShares Biotechnology ETF (IBB) is a smart beta exchange traded fund launched on 02/05/2001.
Even with $2.4 trillion in ETF assets spread across more than 400 ETFs, there's a pending offering from BlackRock that caught my eye. Before I lose you, dear reader, I'm not talking about the hopefully soon-to-be-approved iShares Bitcoin Trust.
Shares of iShares Biotechnology ETF have been trading below their 40-month moving average for almost two years, indicating potential downside risk. The bearish divergences in the fund's RSI momentum indicator and MACD suggest a retest of the multi-year trend line. Short interest in IBB is above 19% and the fund has high tracking errors, indicating a high probability of continued divergence from the benchmark.
Tech-related stocks have performed poorly in 2023, with small-sized funds experiencing even worse losses. The iShares Biotechnology ETF and the SPDR S&P Biotech ETF have performed similarly so far in 2023. IBB is a large ETF with exposure to the biotech industry, but its performance has lagged behind the broad market.
If you're interested in broad exposure to the Healthcare - Biotech segment of the equity market, look no further than the iShares Biotechnology ETF (IBB), a passively managed exchange traded fund launched on 02/05/2001.
We all dream of picking tomorrow's big success story, but in reality, we're more likely to win by investing in a variety of players. Biotech offers you plenty of opportunities -- whether you're a cautious or aggressive investor.
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The iShares Biotechnology ETF (IBB) was launched on 02/05/2001, and is a smart beta exchange traded fund designed to offer broad exposure to the Health Care ETFs category of the market.