iShares Biotechnology ETF (NASDAQ:IBB) Hits New 12-Month High – Should You Buy?

iShares Biotechnology ETF (NASDAQ:IBB) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $189.11 and last traded at $187.47, with a volume of 357942 shares traded. The stock had previously closed at $187.36.

iShares Biotechnology ETF Price Performance

The firm’s 50-day moving average is $172.03 and its 200-day moving average is $171.35.

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 paid a $0.0238 dividend. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date of this dividend was Monday, June 15th.

Institutional Investors Weigh In On iShares Biotechnology ETF

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Darwin Wealth Management LLC bought a new position in iShares Biotechnology ETF in the 2nd quarter valued at about $25,000. Basepoint Wealth LLC purchased a new stake in shares of iShares Biotechnology ETF in the fourth quarter worth approximately $26,000. Cary Street Partners Financial LLC purchased a new stake in shares of iShares Biotechnology ETF in the fourth quarter worth approximately $29,000. Copia Wealth Management bought a new position in shares of iShares Biotechnology ETF in the fourth quarter valued at approximately $34,000. Finally, Caitlin John LLC bought a new position in shares of iShares Biotechnology ETF in the fourth quarter valued at approximately $34,000. 62.45% of the stock is owned by institutional investors.

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.