Merit Financial Group LLC Reduces Stock Holdings in iShares Biotechnology ETF $IBB

Merit Financial Group LLC lowered its holdings in iShares Biotechnology ETF (NASDAQ:IBB) by 53.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,918 shares of the financial services provider’s stock after selling 7,795 shares during the quarter. Merit Financial Group LLC’s holdings in iShares Biotechnology ETF were worth $999,000 as of its most recent SEC filing.

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

iShares Biotechnology ETF Stock Up 2.3%

NASDAQ IBB opened at $171.24 on Wednesday. The stock has a 50-day moving average of $167.18 and a 200 day moving average of $149.16. iShares Biotechnology ETF has a twelve month low of $107.43 and a twelve month high of $174.40.

iShares Biotechnology ETF Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Tuesday, December 16th were given a dividend of $0.1831 per share. 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 dividend yield of 0.4%.

About iShares Biotechnology ETF

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.