PNC Financial Services Group Inc. Sells 6,394 Shares of iShares Biotechnology ETF $IBB

PNC Financial Services Group Inc. cut its position in shares of iShares Biotechnology ETF (NASDAQ:IBB) by 2.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 318,588 shares of the financial services provider’s stock after selling 6,394 shares during the period. PNC Financial Services Group Inc.’s holdings in iShares Biotechnology ETF were worth $53,794,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Citigroup Inc. raised its position in iShares Biotechnology ETF by 40.9% in the 4th quarter. Citigroup Inc. now owns 5,242,688 shares of the financial services provider’s stock worth $884,808,000 after purchasing an additional 1,521,992 shares during the period. Raymond James Financial Inc. boosted its position in shares of iShares Biotechnology ETF by 286.2% during the fourth quarter. Raymond James Financial Inc. now owns 994,311 shares of the financial services provider’s stock valued at $167,810,000 after buying an additional 736,881 shares during the period. WestEnd Advisors LLC purchased a new position in shares of iShares Biotechnology ETF during the fourth quarter valued at approximately $106,276,000. Truist Financial Corp grew its stake in shares of iShares Biotechnology ETF by 2,239.6% during the fourth quarter. Truist Financial Corp now owns 642,023 shares of the financial services provider’s stock valued at $108,354,000 after buying an additional 614,582 shares during the last quarter. Finally, LPL Financial LLC grew its stake in shares of iShares Biotechnology ETF by 145.9% during the fourth quarter. LPL Financial LLC now owns 992,799 shares of the financial services provider’s stock valued at $167,555,000 after buying an additional 589,033 shares during the last quarter. 62.45% of the stock is owned by hedge funds and other institutional investors.

iShares Biotechnology ETF Trading Up 1.1%

Shares of NASDAQ IBB opened at $188.98 on Friday. The business’s 50 day moving average price is $179.10 and its 200-day moving average price is $173.95. iShares Biotechnology ETF has a fifty-two week low of $130.25 and a fifty-two week high of $199.05.

iShares Biotechnology ETF Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Monday, June 15th were given a $0.0238 dividend. This represents a $0.10 annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend was Monday, June 15th.

iShares Biotechnology ETF Company Profile

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.