iShares Biotechnology ETF $IBB Stock: Traynor Capital Management Inc. Boosts Holdings

Traynor Capital Management Inc. lifted its stake in iShares Biotechnology ETF (NASDAQ:IBB) by 39.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 24,223 shares of the financial services provider’s stock after buying an additional 6,869 shares during the quarter. Traynor Capital Management Inc.’s holdings in iShares Biotechnology ETF were worth $5,100,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bank of America Corp DE grew its stake in iShares Biotechnology ETF by 10.8% in the 1st quarter. Bank of America Corp DE now owns 7,259,501 shares of the financial services provider’s stock valued at $1,225,767,000 after acquiring an additional 707,343 shares during the period. Henshaw Capital LLC purchased a new position in shares of iShares Biotechnology ETF in the first quarter valued at approximately $20,262,000. MinichMacGregor Wealth Management LLC raised its stake in iShares Biotechnology ETF by 3,323.4% in the 3rd quarter. MinichMacGregor Wealth Management LLC now owns 78,396 shares of the financial services provider’s stock valued at $16,505,000 after purchasing an additional 76,106 shares during the last quarter. Redstone Wealth Management LLC purchased a new position in iShares Biotechnology ETF in the 3rd quarter valued at $12,401,000. Finally, The Manufacturers Life Insurance Company lifted its holdings in iShares Biotechnology ETF by 64.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 101,838 shares of the financial services provider’s stock valued at $19,369,000 after purchasing an additional 39,760 shares in the last quarter. Hedge funds and other institutional investors own 62.45% of the company’s stock.

iShares Biotechnology ETF Price Performance

Shares of IBB opened at $217.61 on Monday. iShares Biotechnology ETF has a 52-week low of $154.62 and a 52-week high of $222.29. The firm’s fifty day moving average is $208.43 and its two-hundred day moving average is $184.81.

iShares Biotechnology ETF Cuts Dividend

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

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.