Moving averages of IBB’s pharmaceutical subgroup
The pharmaceutical subgroup of the iShares Nasdaq Biotechnology ETF (IBB) consists of 62 stocks and has a total weight of 23.82% in IBB’s portfolio. As of September 18, 2015, 77.42% of the stocks were trading above their 20-day moving average, 54.84% of the stocks were trading above their 50-day moving average, and 51.61% of the stocks were trading above their 100-day moving average.
The quantity of stocks trading above their moving averages is trending up compared to in the previous week ending September 11, 2015. The percentages of stocks trading above their 20-day, 50-day, and 100-day moving averages stood at 69.35%, 41.94%, and 48.39%, respectively. There has been a solid increase in the number of stocks trading above their 50-day moving averages.
The above graph reflects the percentage of stocks in IBB’s pharmaceutical subgroups that are trading above moving averages.
ENDP was trading above 50-day moving average
GW Pharmaceuticals (GWPH) rose 6.53%. As per the company’s press release, “GW Pharmaceuticals announced positive top-line results from an exploratory Phase 2a placebo-controlled clinical trial of Cannabidiol (CBD) in 88 patients with schizophrenia who had previously failed to respond adequately to first-line anti-psychotic medications.” The stock closed at $112.54 on September 18, 2015, and was trading above its 20-day and 50-day moving averages, but below its 100-day moving average. GWPH has a weight of 0.20% in IBB’s portfolio.
ENDO International (ENDP) rose 9.52%. The stock went up on high trading volumes during September 16-18. The average five-day trading volume stood at ~2.9 million shares per day. The stock closed at $81.92 on September 18, 2015, and was trading very close to its 50-day and 100-day moving averages. ENDP has a weight of 2.11% in IBB’s portfolio.