Also rising year-over-year was XBI, up 4.4% from $78.36. The Biogen surge enabled IBB to record an increase from its price on October 30, 2018, as the fund rose 3.8% from $103.63. The SPDR S&P Biotech ETF (XBI) rose 2.1%, from $80.09 to $81.80 Invesco Dynamic Pharmaceuticals ETF (PJP) rose 3.7%, from $57.65 to $59.81 while the First Trust NYSE Arca Biotech ETF (FBT) increased 2.9, from $127.40 to $131.07. In the seven trading days since Biogen sent shares soaring, the largest ETF-the iShares Nasdaq Biotechnology ETF (IBB)-rose 3.9%, going from $103.58 on October 21 to $107.59 on October 30. Stocks for most biotechs rose in the days that followed the aducanumab announcement, judging from activity among the three top electronic transfer funds (ETFs). That FOMO appears to explain why Biogen wasn’t the only biotech company whose shares jumped on the news.
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