PNC Financial Services Group Inc. Trims Position in iShares Biotechnology ETF (NASDAQ:IBB)

PNC Financial Services Group Inc. lessened its stake in shares of iShares Biotechnology ETF (NASDAQ:IBB) by 3.2% during the 4th quarter, Holdings Channel reports. The fund owned 346,744 shares of the financial services provider’s stock after selling 11,448 shares during the quarter. PNC Financial Services Group Inc.’s holdings in iShares Biotechnology ETF were worth $45,843,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of IBB. Huntington National Bank increased its position in shares of iShares Biotechnology ETF by 17.9% during the 3rd quarter. Huntington National Bank now owns 1,054 shares of the financial services provider’s stock worth $153,000 after purchasing an additional 160 shares during the last quarter. National Bank of Canada FI increased its position in shares of iShares Biotechnology ETF by 5.9% during the 3rd quarter. National Bank of Canada FI now owns 4,124 shares of the financial services provider’s stock worth $600,000 after purchasing an additional 229 shares during the last quarter. IFP Advisors Inc increased its position in shares of iShares Biotechnology ETF by 237.1% during the 4th quarter. IFP Advisors Inc now owns 16,018 shares of the financial services provider’s stock worth $2,118,000 after purchasing an additional 11,266 shares during the last quarter. Avior Wealth Management LLC increased its position in shares of iShares Biotechnology ETF by 438.2% during the 3rd quarter. Avior Wealth Management LLC now owns 3,229 shares of the financial services provider’s stock worth $470,000 after purchasing an additional 2,629 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of iShares Biotechnology ETF by 32.9% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 663,000 shares of the financial services provider’s stock worth $96,533,000 after purchasing an additional 164,000 shares during the last quarter. Hedge funds and other institutional investors own 62.45% of the company’s stock.

iShares Biotechnology ETF Trading Up 0.5 %

Shares of NASDAQ:IBB opened at $136.95 on Monday. The business has a 50-day moving average price of $136.08 and a 200 day moving average price of $140.22. The company has a market capitalization of $6.47 billion, a price-to-earnings ratio of 24.52 and a beta of 0.84. iShares Biotechnology ETF has a 12-month low of $123.60 and a 12-month high of $150.57.

iShares Biotechnology ETF Cuts Dividend

The firm also recently disclosed a dividend, which was paid on Friday, December 20th. Investors 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.