IBB, the Nasdaq Biotechnology ETF, drops to a 52-week intraday trading low
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The iShares Nasdaq Biotechnology ETF (NASDAQ:IBB) hit a 52-week trading low on Thursday as the fund touches 143.68, a level it hasnât seen since Nov. 2020.
IBB now finds itself trading at 142.91 a share, down 6.4% in just the first week of 2022 and -19.6% from its all-time high of 177.37 back on Aug. 10, 2021.

Additionally, the ETF has lost $169.1M in capital outflows since its peak, according to etfdb.com.
See below a six-month chart of IBB.



IBB offers market participants exposure to the biotechnology industry, which falls under the health care umbrella. Moreover, the fund allows investors to take advantage of stocks that can flourish on technological breakthroughs in the medical arena.
IBB is also made up of 381 holdings, an expense ratio of 0.45%, and sits on top of $9.4B assets under management. 
The exchange traded funds recent slide is also not being helped by its top holding, Amgen (NASDAQ:AMGN), which is weighted at 9.79%. Bank of America recently downgraded AMGN to Neutral from a Buy rating.