Tiff Advisory Services LLC Takes $7.94 Million Position in iShares Biotechnology ETF $IBB

Tiff Advisory Services LLC bought a new position in iShares Biotechnology ETF (NASDAQ:IBB) during the 3rd quarter, HoldingsChannel reports. The fund bought 55,000 shares of the financial services provider’s stock, valued at approximately $7,940,000. iShares Biotechnology ETF makes up 1.7% of Tiff Advisory Services LLC’s investment portfolio, making the stock its 11th largest position.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Darwin Wealth Management LLC bought a new stake in iShares Biotechnology ETF in the 2nd quarter worth $25,000. Financial Gravity Companies Inc. bought a new position in shares of iShares Biotechnology ETF during the second quarter valued at about $29,000. Harbor Asset Planning Inc. purchased a new stake in shares of iShares Biotechnology ETF during the second quarter worth about $31,000. Ashton Thomas Securities LLC bought a new stake in shares of iShares Biotechnology ETF in the third quarter worth about $36,000. Finally, Bronte Capital Management Pty Ltd. increased its holdings in iShares Biotechnology ETF by 12.6% during the 2nd quarter. Bronte Capital Management Pty Ltd. now owns 295,346 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 32,947 shares during the period. 62.45% of the stock is currently owned by institutional investors.

iShares Biotechnology ETF Stock Up 1.1%

IBB opened at $172.57 on Friday. iShares Biotechnology ETF has a one year low of $107.43 and a one year high of $179.64. The business has a 50 day simple moving average of $171.68 and a two-hundred day simple moving average of $157.24.

iShares Biotechnology ETF Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Tuesday, December 16th were issued a $0.1831 dividend. This represents a $0.73 annualized dividend and a yield of 0.4%. This is an increase from iShares Biotechnology ETF’s previous quarterly dividend of $0.08. The ex-dividend date was Tuesday, December 16th.

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.