Encore Global Management LP Purchases New Position in iShares Biotechnology ETF $IBB

Encore Global Management LP purchased a new position in iShares Biotechnology ETF (NASDAQ:IBB) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 6,000 shares of the financial services provider’s stock, valued at approximately $1,013,000.

Several other institutional investors also recently modified their holdings of the business. Brighton Jones LLC bought a new stake in iShares Biotechnology ETF during the fourth quarter valued at about $201,000. AQR Capital Management LLC bought a new position in shares of iShares Biotechnology ETF in the first quarter worth about $455,000. Millennium Management LLC grew its position in shares of iShares Biotechnology ETF by 140.8% during the first quarter. Millennium Management LLC now owns 41,676 shares of the financial services provider’s stock worth $5,330,000 after purchasing an additional 143,893 shares in the last quarter. M&T Bank Corp grew its position in shares of iShares Biotechnology ETF by 39.3% during the second quarter. M&T Bank Corp now owns 2,660 shares of the financial services provider’s stock worth $337,000 after purchasing an additional 750 shares in the last quarter. Finally, Walleye Capital LLC raised its stake in iShares Biotechnology ETF by 26.8% during the 2nd quarter. Walleye Capital LLC now owns 4,655 shares of the financial services provider’s stock valued at $589,000 after purchasing an additional 985 shares during the period. 62.45% of the stock is owned by hedge funds and other institutional investors.

iShares Biotechnology ETF Price Performance

IBB stock opened at $190.52 on Wednesday. The company’s fifty day moving average price is $180.54 and its 200-day moving average price is $174.32. iShares Biotechnology ETF has a one year low of $130.25 and a one year high of $199.05.

iShares Biotechnology ETF Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Monday, June 15th were given a $0.0238 dividend. The ex-dividend date was Monday, June 15th. This represents a $0.10 annualized dividend and a yield of 0.0%.

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.