It is not a secret that biotechnology stocks are beloved, nor is it a secret that hedge funds are among the investors bestowing some of that love upon the biotech space.

“It turns out that there were some interesting positions of hedge funds in biotech, long and short, from the Goldman Sachs Hedge Fund Trend Monitor,” reports Jon Ogg for 24/7 Wall Street.

Twenty-eight percent of shares of Pharmacyclics (NasdaqGS: PCYC), a maker of cancer treatments, are owned by hedge funds, 24/7 Wall Street reports, citing Goldman, making the stock the most beloved biotech among hedge funds. In March, AbbVie (NYSE: ABBV) offered to acquire Pharmacyclics for $21 billion, or $261.25 per share in cash and stock in what represents the largest takeover of a biotech company in 15 years. [Takeover has This Biotech ETF in Focus]

The $556.8 million PowerShares Dynamic Biotechnology & Genome Portfolio (NYSEArca: PBE) currently sports one of the largest weights to Pharmacyclics among biotech ETFs. The stock is PBE’s second-largest holding, commanding a weight of 5.7%.

Including PBE, there are other credible ETF options for one-stop shopping for several of hedge funds’ favorite biotech stocks, including the $804.7 million Market Vectors Biotech ETF (NYSEArca: BBH).

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