iShares Biotechnology ETF (NASDAQ:IBB) Shares Cross Above 50 Day Moving Average – Here’s What Happened

iShares Biotechnology ETF (NASDAQ:IBB) crossed above its fifty day moving average during trading on Monday. The stock has a fifty day moving average of $207.81 and traded as high as $210.01. iShares Biotechnology ETF shares last traded at $208.69, with a volume of 765,470 shares traded.

iShares Biotechnology ETF Price Performance

The business’s 50 day moving average is $207.81 and its 200-day moving average is $183.96.

iShares Biotechnology ETF Cuts Dividend

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

Hedge Funds Weigh In On iShares Biotechnology ETF

Several hedge funds and other institutional investors have recently modified their holdings of IBB. Kaydan Wealth Management Inc. boosted its position in shares of iShares Biotechnology ETF by 3.9% during the third quarter. Kaydan Wealth Management Inc. now owns 1,363 shares of the financial services provider’s stock worth $287,000 after buying an additional 51 shares during the period. Carter Financial Group INC. grew its stake in shares of iShares Biotechnology ETF by 2.2% in the second quarter. Carter Financial Group INC. now owns 2,423 shares of the financial services provider’s stock valued at $461,000 after buying an additional 53 shares in the last quarter. Parallel Advisors LLC grew its stake in shares of iShares Biotechnology ETF by 8.8% in the first quarter. Parallel Advisors LLC now owns 744 shares of the financial services provider’s stock valued at $126,000 after buying an additional 60 shares in the last quarter. Apollon Wealth Management LLC raised its holdings in shares of iShares Biotechnology ETF by 0.7% in the 3rd quarter. Apollon Wealth Management LLC now owns 8,178 shares of the financial services provider’s stock valued at $1,722,000 after buying an additional 60 shares during the period. Finally, Community Bank N.A. raised its holdings in shares of iShares Biotechnology ETF by 5.2% in the 2nd quarter. Community Bank N.A. now owns 1,483 shares of the financial services provider’s stock valued at $282,000 after buying an additional 73 shares during the period. 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.