biotechnology industry: The withdrawals from the iShares Nasdaq Biotechnology ETF on April 4 were the most since its 2001 inception, with 7.5 percent of the funds $4.98 billion in total assets leaving what is the biggest biotech-focused ETF, according to data compiled by . It follows a lengthy run-up in biotechnology industry stocks, according to Bloomberg. Health-care ETFs have boomed this year, attracting more deposits than any other sector and adding $3.98 billion since January 1. That increase has been spurred by a biotechnology sector that last year gained 74 percent, compared with a 30 percent increase in the Standard a Poors 500 Index and Investors pulled a record $372 million from the biggest biotechnology exchange traded fund in its worst day of redemptions ever. Now, that momentum money is being sucked out, said Geoffrey Porges , an analyst with Sanford C. Bernstein a Co. in New York, in a telephone interview.
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