The largest exchange-traded fund to track the biotechnology sector rallied on Thursday, moving in its biggest one-day percentage pop since June as it hit levels not seen since early 2016. The iShares Nasdaq Biotechnology ETF jumped 2.3% to $331.62, and earlier rose as high as $333.30. That represented the highest level for the fund since the last trading day of 2015, according to FactSet data. The ETF has been a strong performer of late. Thursday is set to be its fourth straight daily increase; for the week it is up 6.6%, on pace for its biggest weekly gain since June. Among the fund’s biggest gainers, Biogen Inc. added 3.9% while BioMarin Pharmaceutical Inc. was up 2.2% and Gilead Sciences added 2.1%.
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