SP Asset Management Acquires 2,458 Shares of iShares Biotechnology ETF (NASDAQ:IBB)

SP Asset Management boosted its holdings in iShares Biotechnology ETF (NASDAQ:IBBGet Rating) by 5.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 50,647 shares of the financial services provider’s stock after purchasing an additional 2,458 shares during the quarter. SP Asset Management owned approximately 0.08% of iShares Biotechnology ETF worth $6,599,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mascoma Wealth Management LLC boosted its position in shares of iShares Biotechnology ETF by 10.1% during the 1st quarter. Mascoma Wealth Management LLC now owns 1,127 shares of the financial services provider’s stock valued at $147,000 after acquiring an additional 103 shares during the last quarter. Procyon Advisors LLC raised its holdings in iShares Biotechnology ETF by 23.2% during the 1st quarter. Procyon Advisors LLC now owns 3,243 shares of the financial services provider’s stock valued at $423,000 after buying an additional 610 shares during the period. HM Payson & Co. raised its holdings in iShares Biotechnology ETF by 430.0% during the 4th quarter. HM Payson & Co. now owns 1,235 shares of the financial services provider’s stock valued at $188,000 after buying an additional 1,002 shares during the period. Benjamin Edwards Inc. raised its holdings in iShares Biotechnology ETF by 16.9% during the 4th quarter. Benjamin Edwards Inc. now owns 1,044 shares of the financial services provider’s stock valued at $159,000 after buying an additional 151 shares during the period. Finally, G&S Capital LLC purchased a new stake in iShares Biotechnology ETF during the 1st quarter valued at $3,980,000. 63.88% of the stock is currently owned by institutional investors.

iShares Biotechnology ETF Stock Performance

NASDAQ:IBB traded up $1.26 during midday trading on Friday, hitting $131.44. 2,406,245 shares of the company traded hands, compared to its average volume of 1,737,137. The firm’s fifty day moving average is $119.28 and its 200-day moving average is $122.98. iShares Biotechnology ETF has a 12-month low of $104.29 and a 12-month high of $177.37.

iShares Biotechnology ETF Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 15th. Investors of record on Friday, June 10th were issued a dividend of $0.031 per share. The ex-dividend date was Thursday, June 9th. This represents a $0.12 annualized dividend and a yield of 0.09%.

About iShares Biotechnology ETF

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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.

See Also

Institutional Ownership by Quarter for iShares Biotechnology ETF (NASDAQ:IBB)

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