iShares Biotechnology ETF (NASDAQ:IBB) Hits New 1-Year High – Still a Buy?

Shares of iShares Biotechnology ETF (NASDAQ:IBB) reached a new 52-week high on Tuesday . The company traded as high as $157.01 and last traded at $156.49, with a volume of 2517857 shares changing hands. The stock had previously closed at $154.19.

iShares Biotechnology ETF Price Performance

The business’s fifty day moving average is $144.20 and its two-hundred day moving average is $132.09.

iShares Biotechnology ETF Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Tuesday, September 16th were issued a $0.0828 dividend. This represents a $0.33 annualized dividend and a dividend yield of 0.2%. The ex-dividend date was Tuesday, September 16th.

Hedge Funds Weigh In On iShares Biotechnology ETF

A number of large investors have recently added to or reduced their stakes in IBB. Citigroup Inc. increased its stake in shares of iShares Biotechnology ETF by 27.0% in the second quarter. Citigroup Inc. now owns 4,073,967 shares of the financial services provider’s stock worth $515,398,000 after acquiring an additional 865,823 shares during the period. JPMorgan Chase & Co. grew its holdings in iShares Biotechnology ETF by 74.2% during the second quarter. JPMorgan Chase & Co. now owns 833,196 shares of the financial services provider’s stock worth $105,408,000 after acquiring an additional 355,000 shares during the period. Bronte Capital Management Pty Ltd. increased its holdings in shares of iShares Biotechnology ETF by 12.6% during the 2nd quarter. Bronte Capital Management Pty Ltd. now owns 295,346 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 32,947 shares in the last quarter. Employees Retirement System of Texas purchased a new stake in iShares Biotechnology ETF during the second quarter worth $25,049,000. Finally, Commonwealth Equity Services LLC boosted its position in iShares Biotechnology ETF by 12.0% during the first quarter. Commonwealth Equity Services LLC now owns 194,516 shares of the financial services provider’s stock worth $24,879,000 after purchasing an additional 20,915 shares in the last quarter. 62.45% of the stock is currently owned by institutional investors.

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.