Lyell Wealth Management LP Cuts Holdings in iShares Biotechnology ETF (NASDAQ:IBB)

Lyell Wealth Management LP trimmed its holdings in shares of iShares Biotechnology ETF (NASDAQ:IBB) by 6.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,565 shares of the financial services provider’s stock after selling 1,377 shares during the period. Lyell Wealth Management LP’s holdings in iShares Biotechnology ETF were worth $2,794,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of IBB. Glass Jacobson Investment Advisors llc increased its stake in iShares Biotechnology ETF by 150.6% in the 3rd quarter. Glass Jacobson Investment Advisors llc now owns 203 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 122 shares in the last quarter. Values First Advisors Inc. purchased a new position in iShares Biotechnology ETF in the 4th quarter valued at approximately $43,000. Horizon Bancorp Inc. IN purchased a new position in iShares Biotechnology ETF in the 3rd quarter valued at approximately $44,000. Tennessee Valley Asset Management Partners purchased a new position in iShares Biotechnology ETF in the 4th quarter valued at approximately $44,000. Finally, Column Capital Advisors LLC purchased a new position in iShares Biotechnology ETF in the 3rd quarter valued at approximately $49,000. 62.45% of the stock is owned by hedge funds and other institutional investors.

iShares Biotechnology ETF Stock Performance

NASDAQ IBB traded down $0.26 during mid-day trading on Wednesday, hitting $127.76. The stock had a trading volume of 1,238,619 shares, compared to its average volume of 1,805,245. iShares Biotechnology ETF has a 52-week low of $111.83 and a 52-week high of $141.16. The company has a 50 day simple moving average of $134.81 and a 200 day simple moving average of $129.75.

iShares Biotechnology ETF Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Friday, March 22nd were issued a dividend of $0.126 per share. This represents a $0.50 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date of this dividend was Thursday, March 21st.

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.