Stock Traders Buy High Volume of iShares Biotechnology ETF Put Options (NASDAQ:IBB)

iShares Biotechnology ETF (NASDAQ:IBB) was the target of unusually large options trading on Thursday. Traders acquired 2,927 put options on the stock. This is an increase of approximately 110% compared to the typical daily volume of 1,392 put options.

iShares Biotechnology ETF Trading Down 2.9%

Shares of iShares Biotechnology ETF stock traded down $5.90 during trading hours on Thursday, hitting $197.44. 243,789 shares of the company’s stock traded hands, compared to its average volume of 1,631,655. iShares Biotechnology ETF has a 12-month low of $149.09 and a 12-month high of $217.12. The company has a fifty day simple moving average of $205.19 and a 200-day simple moving average of $186.05.

iShares Biotechnology ETF Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 18th. Investors of record on Tuesday, September 15th were given a dividend of $0.0112 per share. The ex-dividend date was Tuesday, September 15th. This is a decrease from iShares Biotechnology ETF’s previous quarterly dividend of $0.0238. This represents a $0.04 annualized dividend and a yield of 0.0%.

Institutional Trading of iShares Biotechnology ETF

A number of large investors have recently added to or reduced their stakes in IBB. Elm3 Financial Group LLC raised its position in iShares Biotechnology ETF by 46.5% in the third quarter. Elm3 Financial Group LLC now owns 1,949 shares of the financial services provider’s stock worth $410,000 after acquiring an additional 619 shares during the period. Congress Asset Management Co. bought a new position in shares of iShares Biotechnology ETF during the 3rd quarter valued at approximately $1,314,000. Neville Rodie & Shaw Inc. grew its position in shares of iShares Biotechnology ETF by 0.6% during the 3rd quarter. Neville Rodie & Shaw Inc. now owns 42,235 shares of the financial services provider’s stock valued at $8,892,000 after acquiring an additional 233 shares during the period. Security National Bank of Sioux City Iowa IA increased its stake in shares of iShares Biotechnology ETF by 31.8% during the 2nd quarter. Security National Bank of Sioux City Iowa IA now owns 12,187 shares of the financial services provider’s stock worth $2,318,000 after purchasing an additional 2,939 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in shares of iShares Biotechnology ETF by 64.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 101,838 shares of the financial services provider’s stock worth $19,369,000 after purchasing an additional 39,760 shares during the last quarter. Hedge funds and other institutional investors own 62.45% of the company’s stock.

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.