Redstone Wealth Management LLC Buys 58,901 Shares of iShares Biotechnology ETF $IBB

Redstone Wealth Management LLC bought a new stake in shares of iShares Biotechnology ETF (NASDAQ:IBB) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 58,901 shares of the financial services provider’s stock, valued at approximately $12,401,000. iShares Biotechnology ETF makes up 7.8% of Redstone Wealth Management LLC’s investment portfolio, making the stock its 6th largest holding. Redstone Wealth Management LLC owned about 0.11% of iShares Biotechnology ETF at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of IBB. Bank of America Corp DE increased its position in iShares Biotechnology ETF by 10.8% in the first quarter. Bank of America Corp DE now owns 7,259,501 shares of the financial services provider’s stock worth $1,225,767,000 after buying an additional 707,343 shares in the last quarter. Royal Bank of Canada lifted its position in shares of iShares Biotechnology ETF by 1.0% during the 1st quarter. Royal Bank of Canada now owns 737,128 shares of the financial services provider’s stock valued at $124,464,000 after buying an additional 7,434 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in shares of iShares Biotechnology ETF by 5.4% during the 1st quarter. Janney Montgomery Scott LLC now owns 652,818 shares of the financial services provider’s stock valued at $110,228,000 after buying an additional 33,268 shares in the last quarter. Rockefeller Capital Management L.P. grew its stake in shares of iShares Biotechnology ETF by 16.6% during the 4th quarter. Rockefeller Capital Management L.P. now owns 147,707 shares of the financial services provider’s stock valued at $24,929,000 after acquiring an additional 21,052 shares during the period. Finally, Cetera Investment Advisers grew its stake in shares of iShares Biotechnology ETF by 9.4% during the 1st quarter. Cetera Investment Advisers now owns 128,530 shares of the financial services provider’s stock valued at $21,702,000 after acquiring an additional 10,994 shares during the period. Institutional investors own 62.45% of the company’s stock.

iShares Biotechnology ETF Price Performance

iShares Biotechnology ETF stock opened at $210.50 on Wednesday. The firm has a 50 day moving average of $207.26 and a 200 day moving average of $188.59. iShares Biotechnology ETF has a 12-month low of $153.25 and a 12-month high of $217.12.

iShares Biotechnology ETF Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 18th. Shareholders of record on Tuesday, September 15th were issued a dividend of $0.0112 per share. 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%. The ex-dividend date of this dividend was Tuesday, September 15th.

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.