Lyell Wealth Management LP Increases Holdings in iShares Biotechnology ETF $IBB

Lyell Wealth Management LP increased its position in iShares Biotechnology ETF (NASDAQ:IBB) by 67.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,830 shares of the financial services provider’s stock after buying an additional 4,380 shares during the period. Lyell Wealth Management LP’s holdings in iShares Biotechnology ETF were worth $1,828,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Basepoint Wealth LLC purchased a new stake in shares of iShares Biotechnology ETF in the fourth quarter worth about $26,000. Cary Street Partners Financial LLC purchased a new stake in shares of iShares Biotechnology ETF in the fourth quarter worth about $29,000. Darwin Wealth Management LLC purchased a new stake in shares of iShares Biotechnology ETF in the second quarter worth about $25,000. Cornerstone Planning Group LLC purchased a new stake in shares of iShares Biotechnology ETF in the fourth quarter worth about $35,000. Finally, Copia Wealth Management purchased a new stake in shares of iShares Biotechnology ETF in the fourth quarter worth about $34,000. 62.45% of the stock is currently owned by hedge funds and other institutional investors.

iShares Biotechnology ETF Trading Up 2.7%

NASDAQ:IBB opened at $170.49 on Friday. iShares Biotechnology ETF has a 12 month low of $123.61 and a 12 month high of $179.64. The business’s 50-day moving average is $170.27 and its 200 day moving average is $170.65.

iShares Biotechnology ETF Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 20th. Investors of record on Tuesday, March 17th were given a $0.1218 dividend. 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.