Independent Financial Group LLC Invests $2.36 Million in iShares Biotechnology ETF $IBB

Independent Financial Group LLC acquired a new stake in shares of iShares Biotechnology ETF (NASDAQ:IBB) during the first quarter, HoldingsChannel reports. The fund acquired 13,956 shares of the financial services provider’s stock, valued at approximately $2,356,000.

Several other institutional investors also recently bought and sold shares of IBB. Dynamic Wealth Strategies LLC raised its stake in iShares Biotechnology ETF by 16.6% in the fourth 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 boosted its position in iShares Biotechnology ETF by 2.0% during the 4th 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 boosted its position in iShares Biotechnology ETF by 2.3% during the 4th 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. boosted its position in iShares Biotechnology ETF by 1.0% during the 4th 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 in the last quarter. Finally, Choreo LLC increased its holdings in shares of iShares Biotechnology ETF by 2.2% in the 4th 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 period. 62.45% of the stock is owned by hedge funds and other institutional investors.

iShares Biotechnology ETF Price Performance

IBB opened at $189.76 on Friday. iShares Biotechnology ETF has a 12 month low of $128.84 and a 12 month high of $199.05. The stock has a fifty day moving average price of $177.79 and a 200-day moving average price of $173.40.

iShares Biotechnology ETF Cuts Dividend

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

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.