iShares Biotechnology ETF (NASDAQ:IBB) Shares Sold by Novak & Powell Financial Services Inc.

Novak & Powell Financial Services Inc. lowered its holdings in iShares Biotechnology ETF (NASDAQ:IBB) by 2.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 11,342 shares of the financial services provider’s stock after selling 251 shares during the period. iShares Biotechnology ETF comprises 0.9% of Novak & Powell Financial Services Inc.’s portfolio, making the stock its 29th largest position. Novak & Powell Financial Services Inc.’s holdings in iShares Biotechnology ETF were worth $1,500,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Proficio Capital Partners LLC acquired a new stake in shares of iShares Biotechnology ETF in the 4th quarter valued at about $480,000. IFP Advisors Inc boosted its holdings in shares of iShares Biotechnology ETF by 237.1% in the 4th quarter. IFP Advisors Inc now owns 16,018 shares of the financial services provider’s stock valued at $2,118,000 after buying an additional 11,266 shares during the period. FineMark National Bank & Trust bought a new stake in shares of iShares Biotechnology ETF during the 4th quarter valued at about $319,000. Cullen Frost Bankers Inc. grew its holdings in shares of iShares Biotechnology ETF by 1.5% during the fourth quarter. Cullen Frost Bankers Inc. now owns 5,654 shares of the financial services provider’s stock valued at $748,000 after purchasing an additional 82 shares during the last quarter. Finally, Modern Wealth Management LLC acquired a new stake in shares of iShares Biotechnology ETF during the 4th quarter worth approximately $237,000. 62.45% of the stock is currently owned by hedge funds and other institutional investors.

iShares Biotechnology ETF Trading Up 1.8%

Shares of NASDAQ IBB opened at $124.67 on Wednesday. The company has a market cap of $5.45 billion, a price-to-earnings ratio of 23.96 and a beta of 0.84. The stock’s 50 day simple moving average is $123.38 and its 200 day simple moving average is $132.45. iShares Biotechnology ETF has a 12-month low of $107.43 and a 12-month high of $150.57.

iShares Biotechnology ETF Increases Dividend

The company also recently declared a dividend, which was paid on Friday, March 21st. Stockholders of record on Tuesday, March 18th were issued a dividend of $0.1212 per share. This is an increase from iShares Biotechnology ETF’s previous dividend of $0.06. The ex-dividend date of this dividend was Tuesday, March 18th.

About iShares Biotechnology ETF

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.