Analyst IMS Investment Management Services Ltd. Trims Stock Position in iShares Biotechnology ETF $IBB

Analyst IMS Investment Management Services Ltd. trimmed its stake in iShares Biotechnology ETF (NASDAQ:IBB) by 31.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,207 shares of the financial services provider’s stock after selling 10,551 shares during the period. Analyst IMS Investment Management Services Ltd. owned approximately 0.05% of iShares Biotechnology ETF worth $3,350,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bronte Capital Management Pty Ltd. boosted its holdings in shares of iShares Biotechnology ETF by 12.6% in the second quarter. Bronte Capital Management Pty Ltd. now owns 295,346 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 32,947 shares during the period. Employees Retirement System of Texas purchased a new position in iShares Biotechnology ETF during the 2nd quarter worth $25,049,000. Atlantic Union Bankshares Corp purchased a new position in iShares Biotechnology ETF during the 2nd quarter worth $2,219,000. KFG Wealth Management LLC increased its stake in iShares Biotechnology ETF by 4.8% in the second quarter. KFG Wealth Management LLC now owns 2,444 shares of the financial services provider’s stock valued at $309,000 after purchasing an additional 112 shares during the period. Finally, Telos Capital Management Inc. raised its holdings in shares of iShares Biotechnology ETF by 4.0% in the second quarter. Telos Capital Management Inc. now owns 11,336 shares of the financial services provider’s stock valued at $1,434,000 after buying an additional 436 shares during the last quarter. 62.45% of the stock is currently owned by institutional investors and hedge funds.

iShares Biotechnology ETF Stock Performance

Shares of IBB stock opened at $170.76 on Tuesday. The stock’s 50-day moving average price is $165.59 and its 200 day moving average price is $147.36. iShares Biotechnology ETF has a 52-week low of $107.43 and a 52-week high of $174.40.

iShares Biotechnology ETF Increases Dividend

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

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.