Merit Financial Group LLC Trims Position in iShares Biotechnology ETF $IBB

Merit Financial Group LLC lowered its holdings in iShares Biotechnology ETF (NASDAQ:IBB) by 53.0% in the third quarter, Holdings Channel.com reports. The firm owned 6,918 shares of the financial services provider’s stock after selling 7,795 shares during the period. Merit Financial Group LLC’s holdings in iShares Biotechnology ETF were worth $999,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Bronte Capital Management Pty Ltd. grew its holdings in iShares Biotechnology ETF by 12.6% in 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 buying an additional 32,947 shares during the period. Employees Retirement System of Texas purchased a new position in shares of iShares Biotechnology ETF during the 2nd quarter worth about $25,049,000. Atlantic Union Bankshares Corp acquired a new stake in shares of iShares Biotechnology ETF in the second quarter worth approximately $2,219,000. KFG Wealth Management LLC boosted its position in shares of iShares Biotechnology ETF by 4.8% in the second 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 during the last quarter. Finally, Telos Capital Management Inc. grew its holdings in iShares Biotechnology ETF by 4.0% in the second quarter. Telos Capital Management Inc. now owns 11,336 shares of the financial services provider’s stock valued at $1,434,000 after purchasing an additional 436 shares during the period. 62.45% of the stock is currently owned by hedge funds and other institutional investors.

iShares Biotechnology ETF Stock Up 2.3%

Shares of IBB stock opened at $171.24 on Wednesday. The company has a 50 day moving average price of $167.18 and a 200 day moving average price of $149.16. iShares Biotechnology ETF has a one year low of $107.43 and a one year high of $174.40.

iShares Biotechnology ETF Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Tuesday, December 16th were issued a $0.1831 dividend. The ex-dividend date was Tuesday, December 16th. This is an increase from iShares Biotechnology ETF’s previous quarterly dividend of $0.08. This represents a $0.73 dividend on an annualized basis and a yield of 0.4%.

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.