Ocean Park Asset Management LLC Takes Position in iShares Biotechnology ETF $IBB

Ocean Park Asset Management LLC purchased a new stake in shares of iShares Biotechnology ETF (NASDAQ:IBB) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 43,823 shares of the financial services provider’s stock, valued at approximately $7,396,000. Ocean Park Asset Management LLC owned 0.09% of iShares Biotechnology ETF as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in IBB. BNP Paribas Financial Markets raised its position in iShares Biotechnology ETF by 313.2% in the third quarter. BNP Paribas Financial Markets now owns 1,915,395 shares of the financial services provider’s stock valued at $276,526,000 after purchasing an additional 1,451,820 shares during the period. Jefferies Financial Group Inc. purchased a new position in shares of iShares Biotechnology ETF during the 3rd quarter worth $65,083,000. JPMorgan Chase & Co. grew its holdings in shares of iShares Biotechnology ETF by 27.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,060,048 shares of the financial services provider’s stock worth $153,039,000 after purchasing an additional 226,852 shares during the period. Millennium Management LLC increased 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 purchasing an additional 143,893 shares during the last quarter. Finally, Caption Management LLC acquired a new stake in shares of iShares Biotechnology ETF during the 3rd quarter worth about $11,333,000. 62.45% of the stock is currently owned by institutional investors and hedge funds.

iShares Biotechnology ETF Stock Performance

Shares of IBB opened at $160.41 on Monday. The company’s 50-day moving average price is $171.17 and its 200 day moving average price is $164.38. iShares Biotechnology ETF has a 12-month low of $107.43 and a 12-month high of $179.64.

iShares Biotechnology ETF Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 20th. Investors 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

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.