Q3 Asset Management Acquires New Position in iShares Biotechnology ETF $IBB

Q3 Asset Management acquired a new stake in iShares Biotechnology ETF (NASDAQ:IBB) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 23,686 shares of the financial services provider’s stock, valued at approximately $3,999,000. iShares Biotechnology ETF accounts for about 0.9% of Q3 Asset Management’s investment portfolio, making the stock its 15th biggest position.

Other hedge funds have also recently modified their holdings of the company. Darwin Wealth Management LLC purchased a new stake in shares of iShares Biotechnology ETF in the second quarter valued at about $25,000. Ashton Thomas Securities LLC purchased a new stake in shares of iShares Biotechnology ETF in the third quarter valued at about $36,000. Parkside Financial Bank & Trust grew its holdings in shares of iShares Biotechnology ETF by 48.6% in the third quarter. Parkside Financial Bank & Trust now owns 266 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 87 shares during the period. Close Asset Management Ltd grew its holdings in shares of iShares Biotechnology ETF by 25.5% in the third quarter. Close Asset Management Ltd now owns 345 shares of the financial services provider’s stock valued at $50,000 after purchasing an additional 70 shares during the period. Finally, Founders Financial Alliance LLC grew its holdings in shares of iShares Biotechnology ETF by 605.7% in the third quarter. Founders Financial Alliance LLC now owns 374 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 321 shares during the period. Hedge funds and other institutional investors own 62.45% of the company’s stock.

iShares Biotechnology ETF Price Performance

Shares of IBB opened at $176.66 on Monday. iShares Biotechnology ETF has a 12-month low of $116.25 and a 12-month high of $179.64. The firm has a 50-day moving average price of $170.28 and a 200 day moving average price of $167.39.

iShares Biotechnology ETF Cuts Dividend

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 0.3%.

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.