Horizon Wealth Management LLC Buys 29,822 Shares of iShares Biotechnology ETF $IBB

Horizon Wealth Management LLC increased its stake in shares of iShares Biotechnology ETF (NASDAQ:IBB) by 49.5% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 90,107 shares of the financial services provider’s stock after purchasing an additional 29,822 shares during the period. iShares Biotechnology ETF makes up approximately 2.4% of Horizon Wealth Management LLC’s investment portfolio, making the stock its 16th largest position. Horizon Wealth Management LLC owned 0.17% of iShares Biotechnology ETF worth $18,970,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in IBB. Bank of America Corp DE raised 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 valued at $1,225,767,000 after purchasing an additional 707,343 shares during the period. Royal Bank of Canada boosted its position in shares of iShares Biotechnology ETF by 1.0% during the first quarter. Royal Bank of Canada now owns 737,128 shares of the financial services provider’s stock worth $124,464,000 after buying an additional 7,434 shares during the period. Commonwealth Equity Services LLC boosted its position in shares of iShares Biotechnology ETF by 1.3% during the third quarter. Commonwealth Equity Services LLC now owns 139,653 shares of the financial services provider’s stock worth $29,401,000 after buying an additional 1,819 shares during the period. Albion Financial Group UT boosted its position in shares of iShares Biotechnology ETF by 1.0% during the third quarter. Albion Financial Group UT now owns 120,782 shares of the financial services provider’s stock worth $25,428,000 after buying an additional 1,147 shares during the period. Finally, Cetera Investment Advisers grew its stake in shares of iShares Biotechnology ETF by 9.4% in the first quarter. Cetera Investment Advisers now owns 128,530 shares of the financial services provider’s stock valued at $21,702,000 after buying an additional 10,994 shares in the last quarter. Institutional investors and hedge funds own 62.45% of the company’s stock.

iShares Biotechnology ETF Trading Down 5.0%

Shares of NASDAQ:IBB opened at $210.18 on Friday. iShares Biotechnology ETF has a 1 year low of $154.98 and a 1 year high of $222.29. The firm’s 50-day moving average is $208.49 and its two-hundred day moving average is $185.69.

iShares Biotechnology ETF Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 18th. Investors 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 decrease from iShares Biotechnology ETF’s previous quarterly dividend of $0.0238. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%.

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.