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

Merit Financial Group LLC lowered its position in shares of iShares Biotechnology ETF (NASDAQ:IBB) by 53.0% in the third quarter, according to the company in its most recent filing with the 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 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Founders Financial Alliance LLC lifted its holdings in shares of iShares Biotechnology ETF by 605.7% during the third quarter. Founders Financial Alliance LLC now owns 374 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 321 shares during the period. JPMorgan Chase & Co. lifted its stake in iShares Biotechnology ETF by 27.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,060,048 shares of the financial services provider’s stock valued at $153,039,000 after acquiring an additional 226,852 shares during the period. Calton & Associates Inc. boosted its holdings in shares of iShares Biotechnology ETF by 1.5% in the 3rd quarter. Calton & Associates Inc. now owns 5,504 shares of the financial services provider’s stock valued at $795,000 after acquiring an additional 81 shares during the last quarter. HighTower Advisors LLC increased its stake in shares of iShares Biotechnology ETF by 0.6% in the third quarter. HighTower Advisors LLC now owns 52,040 shares of the financial services provider’s stock worth $7,513,000 after acquiring an additional 333 shares during the period. Finally, Tiff Advisory Services LLC acquired a new stake in shares of iShares Biotechnology ETF in the third quarter worth $7,940,000. 62.45% of the stock is owned by institutional investors and hedge funds.

iShares Biotechnology ETF Stock Performance

NASDAQ IBB opened at $174.02 on Wednesday. The company has a fifty day moving average of $171.87 and a 200 day moving average of $158.14. iShares Biotechnology ETF has a 1 year low of $107.43 and a 1 year high of $179.64.

iShares Biotechnology ETF Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Tuesday, December 16th were issued a $0.1831 dividend. This is a boost from iShares Biotechnology ETF’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Tuesday, December 16th. This represents a $0.73 annualized dividend and a dividend yield of 0.4%.

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.