Connecticut Wealth Management LLC Trims Stake in iShares Biotechnology ETF (NASDAQ:IBB)

Connecticut Wealth Management LLC decreased its position in shares of iShares Biotechnology ETF (NASDAQ:IBB) by 8.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,425 shares of the financial services provider’s stock after selling 748 shares during the quarter. Connecticut Wealth Management LLC’s holdings in iShares Biotechnology ETF were worth $1,145,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in IBB. Glass Jacobson Investment Advisors llc raised its stake in shares of iShares Biotechnology ETF by 150.6% during the 3rd quarter. Glass Jacobson Investment Advisors llc now owns 203 shares of the financial services provider’s stock worth $25,000 after buying an additional 122 shares during the period. Values First Advisors Inc. acquired a new stake in shares of iShares Biotechnology ETF in the fourth quarter valued at about $43,000. Tennessee Valley Asset Management Partners purchased a new stake in shares of iShares Biotechnology ETF during the fourth quarter worth about $44,000. Column Capital Advisors LLC acquired a new position in shares of iShares Biotechnology ETF during the 3rd quarter worth about $49,000. Finally, Massmutual Trust Co. FSB ADV raised its position in shares of iShares Biotechnology ETF by 164.2% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 362 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 225 shares during the last quarter. 62.45% of the stock is owned by hedge funds and other institutional investors.

iShares Biotechnology ETF Price Performance

IBB stock traded up $2.31 during trading on Friday, hitting $132.96. The stock had a trading volume of 1,804,184 shares, compared to its average volume of 1,700,513. The company’s 50-day moving average price is $133.61 and its two-hundred day moving average price is $130.05. The stock has a market capitalization of $7.27 billion, a P/E ratio of 17.35 and a beta of 0.86. iShares Biotechnology ETF has a twelve month low of $111.83 and a twelve month high of $141.16.

iShares Biotechnology ETF Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders 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 dividend yield of 0.38%. The ex-dividend date was Thursday, March 21st.

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.