Midwest Professional Planners LTD. Invests $3.52 Million in iShares Biotechnology ETF $IBB

Midwest Professional Planners LTD. purchased a new position in shares of iShares Biotechnology ETF (NASDAQ:IBB) during the 4th quarter, HoldingsChannel.com reports. The firm purchased 20,874 shares of the financial services provider’s stock, valued at approximately $3,523,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Darwin Wealth Management LLC bought a new stake in shares of iShares Biotechnology ETF during the second quarter worth about $25,000. Cornerstone Planning Group LLC bought a new stake in shares of iShares Biotechnology ETF during the fourth quarter worth about $35,000. Strategic Wealth Advisors LLC bought a new stake in shares of iShares Biotechnology ETF during the fourth quarter worth about $35,000. Parkside Financial Bank & Trust grew its holdings in shares of iShares Biotechnology ETF by 48.6% during the third quarter. Parkside Financial Bank & Trust now owns 266 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 87 shares during the last quarter. Finally, Close Asset Management Ltd grew its holdings in shares of iShares Biotechnology ETF by 25.5% during the third quarter. Close Asset Management Ltd now owns 345 shares of the financial services provider’s stock worth $50,000 after purchasing an additional 70 shares during the last quarter. 62.45% of the stock is currently owned by institutional investors.

iShares Biotechnology ETF Trading Up 0.2%

Shares of IBB stock opened at $164.32 on Wednesday. The business’s 50 day simple moving average is $169.08 and its 200 day simple moving average is $169.75. iShares Biotechnology ETF has a one year low of $119.78 and a one year high of $179.64.

iShares Biotechnology ETF Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 20th. Investors of record on Tuesday, March 17th were issued a $0.1218 dividend. The ex-dividend date was Tuesday, March 17th. This represents a $0.49 annualized dividend and a yield of 0.3%.

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.