Pines Wealth Management LLC Makes New Investment in iShares Biotechnology ETF (NASDAQ:IBB)

Pines Wealth Management LLC bought a new position in shares of iShares Biotechnology ETF (NASDAQ:IBB) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 2,391 shares of the financial services provider’s stock, valued at approximately $317,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Darwin Wealth Management LLC acquired a new stake in shares of iShares Biotechnology ETF in the third quarter valued at about $29,000. Highline Wealth Partners LLC purchased a new position in iShares Biotechnology ETF in the third quarter valued at about $30,000. Ashton Thomas Securities LLC acquired a new stake in shares of iShares Biotechnology ETF during the 3rd quarter valued at approximately $36,000. Modus Advisors LLC purchased a new stake in shares of iShares Biotechnology ETF during the 4th quarter worth approximately $41,000. Finally, Voisard Asset Management Group Inc. acquired a new stake in shares of iShares Biotechnology ETF in the 3rd quarter worth approximately $59,000. 62.45% of the stock is owned by institutional investors and hedge funds.

iShares Biotechnology ETF Stock Up 1.4 %

NASDAQ IBB opened at $133.42 on Thursday. The business has a 50 day moving average price of $137.51 and a 200 day moving average price of $141.93. iShares Biotechnology ETF has a 1-year low of $123.60 and a 1-year high of $150.57.

iShares Biotechnology ETF Cuts Dividend

The company also recently declared a dividend, which was paid on Friday, December 20th. Stockholders of record on Tuesday, December 17th were paid a dividend of $0.0624 per share. The ex-dividend date was Tuesday, December 17th.

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.