Navellier & Associates Inc. Takes $531,000 Position in iShares Biotechnology ETF $IBB

Navellier & Associates Inc. purchased a new position in iShares Biotechnology ETF (NASDAQ:IBB) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 2,794 shares of the financial services provider’s stock, valued at approximately $531,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Darwin Wealth Management LLC purchased a new stake in shares of iShares Biotechnology ETF in the second quarter worth $25,000. Basepoint Wealth LLC purchased a new position in iShares Biotechnology ETF in the 4th quarter worth approximately $26,000. Pension & Wealth Management Advisors Inc. bought a new position in iShares Biotechnology ETF in the 2nd quarter valued at approximately $28,000. Cary Street Partners Financial LLC purchased a new stake in iShares Biotechnology ETF during the 4th quarter valued at $29,000. Finally, Copia Wealth Management purchased a new stake in iShares Biotechnology ETF during the 4th quarter valued at $34,000. Hedge funds and other institutional investors own 62.45% of the company’s stock.

iShares Biotechnology ETF Price Performance

iShares Biotechnology ETF stock opened at $208.95 on Friday. The stock has a fifty day simple moving average of $195.01 and a two-hundred day simple moving average of $178.87. iShares Biotechnology ETF has a 12 month low of $137.63 and a 12 month high of $217.12.

iShares Biotechnology ETF Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Monday, June 15th were given a dividend of $0.0238 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $0.10 annualized dividend and a dividend yield of 0.0%.

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.