PNC Financial Services Group Inc. Sells 21,876 Shares of iShares Biotechnology ETF $IBB

PNC Financial Services Group Inc. lowered its stake in shares of iShares Biotechnology ETF (NASDAQ:IBB) by 6.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 312,712 shares of the financial services provider’s stock after selling 21,876 shares during the period. PNC Financial Services Group Inc. owned 0.76% of iShares Biotechnology ETF worth $39,561,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in IBB. Moors & Cabot Inc. grew its stake in iShares Biotechnology ETF by 2.0% in the first quarter. Moors & Cabot Inc. now owns 29,053 shares of the financial services provider’s stock valued at $3,716,000 after purchasing an additional 558 shares during the last quarter. IFP Advisors Inc boosted its holdings in shares of iShares Biotechnology ETF by 23.9% in the 1st quarter. IFP Advisors Inc now owns 19,849 shares of the financial services provider’s stock valued at $2,539,000 after buying an additional 3,831 shares in the last quarter. N.E.W. Advisory Services LLC purchased a new position in shares of iShares Biotechnology ETF in the 1st quarter worth approximately $45,000. John G Ullman & Associates Inc. purchased a new position in shares of iShares Biotechnology ETF in the 1st quarter worth approximately $230,000. Finally, KFG Wealth Management LLC raised its stake in shares of iShares Biotechnology ETF by 4.8% during the 2nd quarter. KFG Wealth Management LLC now owns 2,444 shares of the financial services provider’s stock worth $309,000 after acquiring an additional 112 shares in the last quarter. 62.45% of the stock is currently owned by hedge funds and other institutional investors.

iShares Biotechnology ETF Stock Performance

Shares of IBB opened at $163.32 on Friday. iShares Biotechnology ETF has a twelve month low of $107.43 and a twelve month high of $166.29. The company has a 50 day moving average of $150.58 and a two-hundred day moving average of $136.68.

iShares Biotechnology ETF Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Tuesday, September 16th were given a $0.0828 dividend. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $0.33 dividend on an annualized basis and a dividend yield of 0.2%.

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.