Pinnacle Associates Ltd. Acquires 4,887 Shares of iShares Biotechnology ETF $IBB

Pinnacle Associates Ltd. raised its holdings in iShares Biotechnology ETF (NASDAQ:IBB – Free Report) by 35.7% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 18,581 shares of the financial services provider’s stock after acquiring an additional 4,887 shares during the quarter. Pinnacle Associates Ltd.’s holdings in iShares Biotechnology ETF were worth $3,136,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of IBB. Brighton Jones LLC bought a new position in shares of iShares Biotechnology ETF during the 4th quarter worth $201,000. AQR Capital Management LLC bought a new position in shares of iShares Biotechnology ETF during the 1st quarter worth $455,000. Millennium Management LLC grew its position in shares of iShares Biotechnology ETF by 140.8% during the 1st quarter. Millennium Management LLC now owns 41,676 shares of the financial services provider’s stock worth $5,330,000 after buying an additional 143,893 shares in the last quarter. M&T Bank Corp grew its position in shares of iShares Biotechnology ETF by 39.3% during the 2nd quarter. M&T Bank Corp now owns 2,660 shares of the financial services provider’s stock worth $337,000 after buying an additional 750 shares in the last quarter. Finally, Walleye Capital LLC grew its position in shares of iShares Biotechnology ETF by 26.8% during the 2nd quarter. Walleye Capital LLC now owns 4,655 shares of the financial services provider’s stock worth $589,000 after buying an additional 985 shares in the last quarter. Institutional investors own 62.45% of the company’s stock.

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iShares Biotechnology ETF Price Performance

IBB opened at $166.83 on Friday. iShares Biotechnology ETF has a 12-month low of $118.51 and a 12-month high of $179.64. The business’s fifty day simple moving average is $169.24 and its 200-day simple moving average is $169.57.

iShares Biotechnology ETF Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 20th. Stockholders of record on Tuesday, March 17th were given a dividend of $0.1218 per share. 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%.

About iShares Biotechnology ETF

(Free Report)

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.

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