Harmony Asset Management LLC Makes New Investment in iShares Biotechnology ETF $IBB

Harmony Asset Management LLC acquired a new position in iShares Biotechnology ETF (NASDAQ:IBB) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 5,502 shares of the financial services provider’s stock, valued at approximately $929,000.

A number of other institutional investors have also added to or reduced their stakes in the company. IFP Advisors Inc grew its position in iShares Biotechnology ETF by 7.5% in the 4th quarter. IFP Advisors Inc now owns 20,486 shares of the financial services provider’s stock worth $3,457,000 after purchasing an additional 1,424 shares in the last quarter. Midwest Professional Planners LTD. bought a new stake in iShares Biotechnology ETF in the 4th quarter worth about $3,523,000. Cullen Frost Bankers Inc. grew its position in iShares Biotechnology ETF by 32.2% in the 4th quarter. Cullen Frost Bankers Inc. now owns 7,339 shares of the financial services provider’s stock worth $1,239,000 after purchasing an additional 1,789 shares in the last quarter. Creative Financial Designs Inc. ADV grew its position in iShares Biotechnology ETF by 30.2% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 2,740 shares of the financial services provider’s stock worth $462,000 after purchasing an additional 636 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its position in iShares Biotechnology ETF by 6.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 324,982 shares of the financial services provider’s stock worth $54,847,000 after purchasing an additional 18,514 shares in the last quarter. 62.45% of the stock is owned by institutional investors.

iShares Biotechnology ETF Stock Up 2.3%

Shares of IBB stock opened at $167.91 on Thursday. iShares Biotechnology ETF has a 52-week low of $119.78 and a 52-week high of $179.64. The company has a 50-day simple moving average of $169.01 and a two-hundred day simple moving average of $169.83.

iShares Biotechnology ETF Cuts Dividend

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

iShares Biotechnology ETF Company 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.