Modern Wealth Management LLC Invests $237,000 in iShares Biotechnology ETF (NASDAQ:IBB)

Modern Wealth Management LLC acquired a new stake in shares of iShares Biotechnology ETF (NASDAQ:IBB) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,738 shares of the financial services provider’s stock, valued at approximately $237,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. HHM Wealth Advisors LLC grew its position in iShares Biotechnology ETF by 200.0% in the 4th quarter. HHM Wealth Advisors LLC now owns 225 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 150 shares during the last quarter. VSM Wealth Advisory LLC bought a new position in iShares Biotechnology ETF in the 4th quarter worth approximately $30,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in iShares Biotechnology ETF in the 4th quarter valued at approximately $32,000. Newbridge Financial Services Group Inc. bought a new stake in iShares Biotechnology ETF during the 4th quarter valued at $33,000. Finally, Hager Investment Management Services LLC acquired a new position in iShares Biotechnology ETF during the 4th quarter worth $34,000. Institutional investors and hedge funds own 62.45% of the company’s stock.

iShares Biotechnology ETF Stock Performance

NASDAQ:IBB opened at $130.29 on Friday. 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 of $136.16 and a 200-day moving average of $138.96. The stock has a market cap of $6.16 billion, a price-to-earnings ratio of 27.83 and a beta of 0.84.

iShares Biotechnology ETF Increases Dividend

The business also recently announced a dividend, which was paid on Friday, March 21st. Shareholders of record on Tuesday, March 18th were paid a dividend of $0.1212 per share. This is a boost from iShares Biotechnology ETF’s previous dividend of $0.06. The ex-dividend date of this dividend was Tuesday, March 18th.

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.