iShares Biotechnology ETF (NASDAQ:IBB) Sees Large Decline in Short Interest

iShares Biotechnology ETF (NASDAQ:IBB – Get Rating) saw a significant decline in short interest in March. As of March 31st, there was short interest totalling 9,550,000 shares, a decline of 20.2% from the March 15th total of 11,970,000 shares. Based on an average daily trading volume, of 2,721,300 shares, the short-interest ratio is presently 3.5 days.

Several hedge funds have recently added to or reduced their stakes in the business. Homrich & Berg lifted its holdings in shares of iShares Biotechnology ETF by 5.4% during the 3rd quarter. Homrich & Berg now owns 1,475 shares of the financial services provider’s stock valued at $238,000 after purchasing an additional 75 shares during the last quarter. Bogart Wealth LLC raised its stake in iShares Biotechnology ETF by 31.3% in the fourth quarter. Bogart Wealth LLC now owns 315 shares of the financial services provider’s stock valued at $48,000 after buying an additional 75 shares during the last quarter. Grimes & Company Inc. raised its stake in iShares Biotechnology ETF by 3.1% in the third quarter. Grimes & Company Inc. now owns 2,573 shares of the financial services provider’s stock valued at $416,000 after buying an additional 78 shares during the last quarter. RDA Financial Network boosted its holdings in iShares Biotechnology ETF by 3.6% in the fourth quarter. RDA Financial Network now owns 2,424 shares of the financial services provider’s stock worth $370,000 after acquiring an additional 84 shares in the last quarter. Finally, MUFG Americas Holdings Corp grew its stake in shares of iShares Biotechnology ETF by 1.1% during the third quarter. MUFG Americas Holdings Corp now owns 8,059 shares of the financial services provider’s stock worth $1,303,000 after acquiring an additional 90 shares during the last quarter. 65.38% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ IBB opened at $127.10 on Tuesday. iShares Biotechnology ETF has a 1-year low of $118.60 and a 1-year high of $177.37. The business has a fifty day moving average price of $128.08 and a 200 day moving average price of $141.85.

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 30th. Shareholders of record on Friday, March 25th were issued a $0.118 dividend. The ex-dividend date of this dividend was Thursday, March 24th. This is an increase from iShares Biotechnology ETF’s previous quarterly dividend of $0.04. This represents a $0.47 dividend on an annualized basis and a yield of 0.37%.

iShares Biotechnology ETF Company Profile (Get Rating)

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.

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