Envestnet Asset Management Inc. Trims Stock Position in iShares Biotechnology ETF $IBB

Envestnet Asset Management Inc. reduced its stake in iShares Biotechnology ETF (NASDAQ:IBB) by 10.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 50,384 shares of the financial services provider’s stock after selling 5,695 shares during the quarter. Envestnet Asset Management Inc. owned 0.12% of iShares Biotechnology ETF worth $7,274,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of IBB. Darwin Wealth Management LLC purchased a new position in iShares Biotechnology ETF in the 2nd quarter valued at $25,000. Financial Gravity Companies Inc. acquired a new stake in shares of iShares Biotechnology ETF in the 2nd quarter worth $29,000. Ashton Thomas Securities LLC purchased a new stake in shares of iShares Biotechnology ETF in the third quarter valued at about $36,000. Bronte Capital Management Pty Ltd. increased its stake in shares of 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 acquiring an additional 32,947 shares during the period. Finally, Parkside Financial Bank & Trust increased its stake in shares of iShares Biotechnology ETF by 48.6% during the third quarter. Parkside Financial Bank & Trust now owns 266 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 87 shares during the period. Hedge funds and other institutional investors own 62.45% of the company’s stock.

iShares Biotechnology ETF Price Performance

NASDAQ IBB opened at $174.39 on Friday. iShares Biotechnology ETF has a 52-week low of $107.43 and a 52-week high of $179.64. The firm has a 50-day moving average price of $172.18 and a 200 day moving average price of $158.64.

iShares Biotechnology ETF Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Tuesday, December 16th were issued a $0.1831 dividend. 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%. This is an increase from iShares Biotechnology ETF’s previous quarterly dividend of $0.08.

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.