Finer Wealth Management Inc. Increases Stake in iShares Biotechnology ETF (NASDAQ:IBB)

Finer Wealth Management Inc. boosted its holdings in shares of iShares Biotechnology ETF (NASDAQ:IBB) by 15.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,576 shares of the financial services provider’s stock after acquiring an additional 1,127 shares during the period. Finer Wealth Management Inc.’s holdings in iShares Biotechnology ETF were worth $1,134,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of IBB. HHM Wealth Advisors LLC lifted its holdings in iShares Biotechnology ETF by 200.0% during the fourth quarter. HHM Wealth Advisors LLC now owns 225 shares of the financial services provider’s stock worth $30,000 after buying an additional 150 shares during the period. VSM Wealth Advisory LLC bought a new position in shares of iShares Biotechnology ETF in the 4th quarter worth $30,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of iShares Biotechnology ETF during the 4th quarter worth $32,000. Newbridge Financial Services Group Inc. bought a new stake in iShares Biotechnology ETF during the fourth quarter valued at about $33,000. Finally, Hager Investment Management Services LLC purchased a new position in iShares Biotechnology ETF in the fourth quarter valued at about $34,000. 62.45% of the stock is currently owned by institutional investors.

iShares Biotechnology ETF Stock Performance

Shares of iShares Biotechnology ETF stock opened at $119.85 on Wednesday. The company has a market capitalization of $5.36 billion, a PE ratio of 24.21 and a beta of 0.84. The company has a 50-day simple moving average of $130.88 and a two-hundred day simple moving average of $136.32. iShares Biotechnology ETF has a one year low of $107.43 and a one year high of $150.57.

iShares Biotechnology ETF Increases Dividend

The company also recently disclosed a dividend, which was paid on Friday, March 21st. Investors of record on Tuesday, March 18th were paid a dividend of $0.1212 per share. The ex-dividend date of this dividend was Tuesday, March 18th. This is a positive change from iShares Biotechnology ETF’s previous dividend of $0.06.

iShares Biotechnology ETF 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.