Grassi Investment Management Trims Stock Position in iShares Biotechnology ETF (NASDAQ:IBB)

Grassi Investment Management cut its stake in iShares Biotechnology ETF (NASDAQ:IBB) by 16.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,259 shares of the financial services provider’s stock after selling 1,000 shares during the period. Grassi Investment Management’s holdings in iShares Biotechnology ETF were worth $695,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Darwin Wealth Management LLC acquired a new position in shares of iShares Biotechnology ETF during the third quarter worth about $29,000. Highline Wealth Partners LLC acquired a new position in shares of iShares Biotechnology ETF during the third quarter worth about $30,000. Ashton Thomas Securities LLC acquired a new position in shares of iShares Biotechnology ETF during the third quarter worth about $36,000. Modus Advisors LLC acquired a new position in shares of iShares Biotechnology ETF during the fourth quarter worth about $41,000. Finally, Voisard Asset Management Group Inc. acquired a new position in shares of iShares Biotechnology ETF during the third quarter worth about $59,000. 62.45% of the stock is owned by hedge funds and other institutional investors.

iShares Biotechnology ETF Trading Up 0.5 %

Shares of iShares Biotechnology ETF stock traded up $0.60 on Monday, reaching $133.33. 1,120,093 shares of the stock were exchanged, compared to its average volume of 1,398,839. iShares Biotechnology ETF has a 1-year low of $123.60 and a 1-year high of $150.57. The business has a fifty day moving average price of $137.95 and a two-hundred day moving average price of $141.99.

iShares Biotechnology ETF Cuts Dividend

The business also recently announced a dividend, which was paid on Friday, December 20th. Shareholders of record on Tuesday, December 17th were given a dividend of $0.0624 per share. The ex-dividend date was Tuesday, December 17th.

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.