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Put This Fund at the Top of Your Long-Term Buy List

iShares Nasdaq Biotechnology (IBB) — This ETF seeks to track the results of an index composed of Nasdaq-listed biotechnology and pharmaceutical stocks.

I don’t normally recommend an ETF for the typically short-term oriented Trade of the Day. However, this Morningstar five-star-rated fund has had an extraordinary run, up over 30% in the past year.

The management fee of just 0.48% per year is partially offset by a yield of 0.16%. And its net cost is low compared with other biotech funds.

Top holdings include Amgen (AMGN), Celgene (CELG), Gilead Sciences (GILD) and Biogen Idec (BIIB).

Despite the recent stock market correction, IBB held up well, and in fact, is still in an uptrend with support at its 200-day moving average at $251 and resistance at its 50-day moving average at $269. Its trend is supported by strong recent buying and an oversold MACD indicator.

Buy IBB under $260 as a long-term investment. The one-year objective is $300-plus for a return of at least 15%.

IBB Chart
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Chart Key


Article printed from InvestorPlace Media, https://investorplace.com/2014/10/trade-day-ishares-nasdaq-biotechnology-ibb/.

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