Beverly Hills Private Wealth LLC Cuts Position in iShares Biotechnology ETF (NASDAQ:IBB)

Beverly Hills Private Wealth LLC cut its holdings in iShares Biotechnology ETF (NASDAQ:IBB) by 8.7% during the 4th quarter, Holdings Channel reports. The fund owned 2,278 shares of the financial services provider’s stock after selling 216 shares during the period. Beverly Hills Private Wealth LLC’s holdings in iShares Biotechnology ETF were worth $309,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in IBB. Glass Jacobson Investment Advisors llc raised its position in shares of iShares Biotechnology ETF by 150.6% during the 3rd quarter. Glass Jacobson Investment Advisors llc now owns 203 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 122 shares during the period. PCA Investment Advisory Services Inc. bought a new stake in shares of iShares Biotechnology ETF during the 2nd quarter valued at $28,000. Values First Advisors Inc. bought a new stake in shares of iShares Biotechnology ETF during the 4th quarter valued at $43,000. Tennessee Valley Asset Management Partners bought a new stake in shares of iShares Biotechnology ETF during the 4th quarter valued at $44,000. Finally, Horizon Bancorp Inc. IN bought a new stake in shares of iShares Biotechnology ETF during the 3rd quarter valued at $44,000. 62.45% of the stock is currently owned by institutional investors.

iShares Biotechnology ETF Stock Performance

Shares of IBB stock opened at $127.84 on Tuesday. iShares Biotechnology ETF has a one year low of $111.83 and a one year high of $141.16. The company’s fifty day moving average price is $135.82 and its 200-day moving average price is $129.54.

iShares Biotechnology ETF Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Friday, March 22nd were given a dividend of $0.126 per share. The ex-dividend date was Thursday, March 21st. This represents a $0.50 annualized dividend and a dividend yield of 0.39%.

About iShares Biotechnology ETF

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.