iShares Biotechnology ETF $IBB Position Lifted by MAI Capital Management

MAI Capital Management raised its stake in iShares Biotechnology ETF (NASDAQ:IBB) by 8.6% in the 3rd quarter, Holdings Channel.com reports. The firm owned 76,381 shares of the financial services provider’s stock after acquiring an additional 6,035 shares during the period. MAI Capital Management’s holdings in iShares Biotechnology ETF were worth $11,027,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Darwin Wealth Management LLC acquired a new stake in iShares Biotechnology ETF during the second quarter valued at approximately $25,000. Financial Gravity Companies Inc. bought a new stake in shares of iShares Biotechnology ETF in the 2nd quarter valued at approximately $29,000. Ashton Thomas Securities LLC acquired a new stake in shares of iShares Biotechnology ETF during the 3rd quarter valued at approximately $36,000. Parkside Financial Bank & Trust boosted its holdings in 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 worth $38,000 after purchasing an additional 87 shares during the period. Finally, Founders Financial Alliance LLC increased its stake in iShares Biotechnology ETF by 605.7% during 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 last quarter. Institutional investors own 62.45% of the company’s stock.

iShares Biotechnology ETF Stock Performance

iShares Biotechnology ETF stock opened at $175.30 on Thursday. iShares Biotechnology ETF has a 1 year low of $107.43 and a 1 year high of $179.64. The firm’s 50-day moving average is $172.61 and its 200-day moving average is $159.74.

iShares Biotechnology ETF Increases Dividend

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

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.