Northwestern Mutual Wealth Management Co. Lowers Stock Position in iShares Biotechnology ETF $IBB

Northwestern Mutual Wealth Management Co. reduced its position in shares of iShares Biotechnology ETF (NASDAQ:IBB) by 15.9% during the fourth quarter, Holdings Channel reports. The firm owned 22,266 shares of the financial services provider’s stock after selling 4,212 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in iShares Biotechnology ETF were worth $3,758,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in IBB. Dynamic Wealth Strategies LLC lifted its position in shares of iShares Biotechnology ETF by 16.6% during the 4th quarter. Dynamic Wealth Strategies LLC now owns 422 shares of the financial services provider’s stock worth $71,000 after buying an additional 60 shares in the last quarter. Flagship Private Wealth LLC grew its holdings in shares of iShares Biotechnology ETF by 2.0% in the fourth quarter. Flagship Private Wealth LLC now owns 3,084 shares of the financial services provider’s stock valued at $521,000 after acquiring an additional 60 shares in the last quarter. Larson Financial Group LLC grew its holdings in shares of iShares Biotechnology ETF by 2.3% in the fourth quarter. Larson Financial Group LLC now owns 2,717 shares of the financial services provider’s stock valued at $458,000 after acquiring an additional 60 shares in the last quarter. Webster Bank N. A. increased its position in shares of iShares Biotechnology ETF by 1.0% during the fourth quarter. Webster Bank N. A. now owns 6,476 shares of the financial services provider’s stock valued at $1,093,000 after acquiring an additional 62 shares during the last quarter. Finally, Choreo LLC increased its position in shares of iShares Biotechnology ETF by 2.2% during the fourth quarter. Choreo LLC now owns 3,043 shares of the financial services provider’s stock valued at $514,000 after acquiring an additional 65 shares during the last quarter. 62.45% of the stock is currently owned by hedge funds and other institutional investors.

iShares Biotechnology ETF Trading Up 2.3%

Shares of iShares Biotechnology ETF stock opened at $171.43 on Friday. The business’s fifty day simple moving average is $169.89 and its 200 day simple moving average is $170.57. iShares Biotechnology ETF has a 12 month low of $123.61 and a 12 month high of $179.64.

iShares Biotechnology ETF Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 20th. Stockholders of record on Tuesday, March 17th were paid a dividend of $0.1218 per share. This represents a $0.49 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Tuesday, March 17th.

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.