For the primary time in 18 years, there was a brand new remedy for Alzheimer’s Illness accepted by the FDA.
Aducanumab from Biogen Inc (NASDAQ: BIIB) was approved as a drug that may scale back the medical decline of dementia. The FDA concluded utilizing Aduhelm (the advertising identify of Aducanumab) for Alzheimer’s sufferers outweighs the danger of remedy.
The end result noticed Biogen shares halted for hours Monday earlier than reopening for commerce at $449, considerably above the 52-week excessive of $363.92. Buyers despatched shares of ETFs with Biogen up larger previous to shares of Biogen resuming commerce.
Here’s a have a look at 5 ETFs with massive publicity to Biogen shares (information as of June 4 from ETFdb.com and the corporate’s web sites).
Invesco Dynamic Biotechnology & Genome ETF (NYSE: PBE): +5.1%
The Invesco Dynamic Biotechnology & Genome ETF follows the Dynamic Biotech & Genome index, investing at the very least 90% of belongings in securities discovered within the index. The index consists of 30 corporations within the sector. The ETF rebalances quarterly in February, Could, August and November.
Biogen is the second largest weighted inventory within the PBE ETF at 5.23% of belongings. Eight of the 31 holdings within the ETF have a weighting of 4.8% or extra together with Illumina Inc (NASDAQ: ILMN), Gilead Sciences (NASDAQ: GILD), Bio-Techne (NASDAQ: TECH), Alexion Prescription drugs (NASDAQ: ALXN), Amgen Inc (NASDAQ: AMGN), Catalent Inc (NYSE: CTLT) and Qiagen (NYSE: QGEN).
VanEck Vectors Biotech ETF: (NASDAQ: BBH): +4.6%
The VanEck Vectors Biotech ETF follows the MVIS Us Listed Biotech 25 Index, which tracks the efficiency of corporations concerned in genetic evaluation and diagnostics gear.
Biogen is the eighth largest holding within the ETF at 4.8% of belongings. The ETF’s prime holdings are Amgen, Moderna Inc (NASDAQ: MRNA) and BioNTech (NASDAQ: BNTX) at 9%, 7.2% and 5.8% of belongings respectively.
Associated Hyperlink: Where Biogen Stands With Analysts
Invesco BuyBack Achievers ETF (NASDAQ: PKW): +2%
Together with a number of biotechnology sector ETFs, the Invesco BuyBack Achievers ETF was up on information from Biogen’s approval. The ETF, which has 109 holdings, is predicated on the Nasdaq US BuyBack Achievers Index. The Index tracks corporations which have a internet discount in shares excellent of 5% or extra over the past trailing twelve months. The ETF is rebalanced quarterly in January, April, July and October.
Biogen is the fifth largest holding within the ETF at 3.5% of belongings and the highest held well being care inventory within the fund. High holdings within the ETF embrace Oracle Corp (NYSE: ORCL), Constitution Communications (NASDAQ: CHTR), eBay Inc (NASDAQ: EBAY) and Allstate Corp (NYSE: ALL).
First Belief NYSE Arca Biotechnology Index Fund (NYSE: FBT): +4.3%
The First Belief NYSE Arca Biotechnology Index Fund tracks an index of 30 holdings that cowl a number of areas of the sector. The ETF has 30 holdings and because of the equal weighting the highest 10 holdings symbolize 3.5% to 4.0% of belongings.
Biogen is the eighth largest holdings at 3.5% of belongings. The fund rebalances in January, April, July and October to get parts to equal weighting.
iShares Nasdaq Biotechnology ETF (NASDAQ: IBB): +4.4%
With $10.1 billion belongings underneath administration, the iShares Nasdaq Biotechnology ETF is among the largest within the sector and will have an excellent impression from the Biogen information. The ETF has 277 holdings and tracks an index that covers corporations listed on the Nasdaq in each the biotechnology and pharmaceutical fields.
Biogen represents 3.5% of belongings and is the seventh largest holding. High holdings within the ETF are Amgen, Gilead and Moderna at weightings of 8.7%, 7.1% and 6.9%, respectively.
Value Motion: Shares of Biogen are up 42% to $405 on the time of writing.
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