Essex Financial Services Inc. Sells 435 Shares of iShares Biotechnology ETF (NASDAQ:IBB)

Essex Financial Services Inc. decreased its holdings in iShares Biotechnology ETF (NASDAQ:IBB) by 6.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 6,465 shares of the financial services provider’s stock after selling 435 shares during the period. Essex Financial Services Inc.’s holdings in iShares Biotechnology ETF were worth $878,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in IBB. International Assets Investment Management LLC bought a new position in shares of iShares Biotechnology ETF during the fourth quarter valued at $76,425,000. Itau Unibanco Holding S.A. purchased a new position in iShares Biotechnology ETF in the 3rd quarter worth approximately $48,242,000. Miracle Mile Advisors LLC lifted its holdings in iShares Biotechnology ETF by 0.4% in the 3rd quarter. Miracle Mile Advisors LLC now owns 325,333 shares of the financial services provider’s stock worth $39,785,000 after purchasing an additional 1,399 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich lifted its holdings in iShares Biotechnology ETF by 3.7% in the 3rd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 293,097 shares of the financial services provider’s stock worth $35,843,000 after purchasing an additional 10,542 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. lifted its holdings in iShares Biotechnology ETF by 8.9% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 153,692 shares of the financial services provider’s stock worth $20,879,000 after purchasing an additional 12,611 shares in the last quarter. Hedge funds and other institutional investors own 62.45% of the company’s stock.

iShares Biotechnology ETF Stock Up 0.9 %

Shares of IBB opened at $130.65 on Friday. The business’s 50 day simple moving average is $133.84 and its 200-day simple moving average is $129.91. iShares Biotechnology ETF has a 1 year low of $111.83 and a 1 year high of $141.16.

iShares Biotechnology ETF Dividend Announcement

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

iShares Biotechnology ETF Company Profile

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.