Alerus Financial NA Cuts Stake in iShares Biotechnology ETF (NASDAQ:IBB)

Alerus Financial NA reduced its stake in iShares Biotechnology ETF (NASDAQ:IBB – Get Rating) by 26.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,913 shares of the financial services provider’s stock after selling 1,372 shares during the quarter. Alerus Financial NA’s holdings in iShares Biotechnology ETF were worth $597,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. Consolidated Planning Corp purchased a new stake in shares of iShares Biotechnology ETF in the third quarter worth approximately $32,000. Future Financial Wealth Managment LLC acquired a new position in shares of iShares Biotechnology ETF in the 4th quarter valued at approximately $30,000. Gradient Investments LLC increased its position in shares of iShares Biotechnology ETF by 99.0% during the fourth quarter. Gradient Investments LLC now owns 201 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 100 shares in the last quarter. Steward Financial Group LLC acquired a new stake in shares of iShares Biotechnology ETF during the 4th quarter worth about $34,000. Finally, Dixon Hughes Goodman Wealth Advisors LLC bought a new stake in shares of iShares Biotechnology ETF during the 4th quarter valued at $38,000. 63.88% of the stock is owned by hedge funds and other institutional investors.

Shares of IBB stock traded down $1.06 on Wednesday, hitting $113.52. 89,021 shares of the stock were exchanged, compared to its average volume of 2,871,672. iShares Biotechnology ETF has a one year low of $105.39 and a one year high of $177.37. The firm’s 50 day moving average is $123.77 and its two-hundred day moving average is $134.31.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 30th. Stockholders of record on Friday, March 25th were issued a dividend of $0.118 per share. This is an increase from iShares Biotechnology ETF’s previous quarterly dividend of $0.04. This represents a $0.47 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date was Thursday, March 24th.

About iShares Biotechnology ETF (Get Rating)

iShares Nasdaq Biotechnology ETF (the Fund), formerly iShares Nasdaq Biotechnology Index Fund, is an exchange-traded fund (ETF). The Fund seeks investment results that correspond generally to the price and yield performance of the NASDAQ Biotechnology Index (the Index). The Index contains securities of NASDAQ listed companies that are classified according to the Industry Classification Benchmark as either biotechnology or pharmaceuticals, which also meet other eligibility criteria determined by NASDAQ.

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