HBW Advisory Services LLC Invests $1.03 Million in iShares Biotechnology ETF $IBB

HBW Advisory Services LLC purchased a new position in shares of iShares Biotechnology ETF (NASDAQ:IBB) during the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 6,084 shares of the financial services provider’s stock, valued at approximately $1,027,000.

Several other hedge funds have also made changes to their positions in IBB. Brighton Jones LLC acquired a new stake in shares of iShares Biotechnology ETF during the fourth quarter worth about $201,000. AQR Capital Management LLC acquired a new stake in shares of iShares Biotechnology ETF during the first quarter worth about $455,000. Millennium Management LLC lifted its position in shares of iShares Biotechnology ETF by 140.8% during the first quarter. Millennium Management LLC now owns 41,676 shares of the financial services provider’s stock worth $5,330,000 after purchasing an additional 143,893 shares in the last quarter. M&T Bank Corp lifted its position in shares of iShares Biotechnology ETF by 39.3% during the second quarter. M&T Bank Corp now owns 2,660 shares of the financial services provider’s stock worth $337,000 after purchasing an additional 750 shares in the last quarter. Finally, Walleye Capital LLC lifted its position in shares of iShares Biotechnology ETF by 26.8% during the second quarter. Walleye Capital LLC now owns 4,655 shares of the financial services provider’s stock worth $589,000 after purchasing an additional 985 shares in the last quarter. Institutional investors and hedge funds own 62.45% of the company’s stock.

iShares Biotechnology ETF Stock Up 1.7%

Shares of NASDAQ:IBB opened at $172.19 on Tuesday. The firm’s 50 day moving average price is $170.09 and its 200 day moving average price is $166.50. iShares Biotechnology ETF has a fifty-two week low of $116.25 and a fifty-two week high of $179.64.

iShares Biotechnology ETF Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 20th. Investors of record on Tuesday, March 17th were issued a $0.1218 dividend. The ex-dividend date of this dividend was Tuesday, March 17th. This represents a $0.49 annualized dividend and a yield of 0.3%.

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.