Kovitz Investment Group Partners LLC Cuts Position in iShares Biotechnology ETF (NASDAQ:IBB)

Kovitz Investment Group Partners LLC decreased its position in shares of iShares Biotechnology ETF (NASDAQ:IBB) by 3.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,750 shares of the financial services provider’s stock after selling 119 shares during the period. Kovitz Investment Group Partners LLC’s holdings in iShares Biotechnology ETF were worth $509,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Principal Securities Inc. bought a new stake in shares of iShares Biotechnology ETF in the 4th quarter worth approximately $512,000. Montag A & Associates Inc. raised its position in iShares Biotechnology ETF by 6.6% in the 4th quarter. Montag A & Associates Inc. now owns 2,820 shares of the financial services provider’s stock worth $383,000 after purchasing an additional 175 shares during the period. Advantage Trust Co bought a new stake in iShares Biotechnology ETF in the fourth quarter worth $1,938,000. Van Leeuwen & Company LLC purchased a new stake in iShares Biotechnology ETF during the fourth quarter valued at about $211,000. Finally, Pinnacle Wealth Management Advisory Group LLC grew its stake in shares of iShares Biotechnology ETF by 8.3% during the fourth quarter. Pinnacle Wealth Management Advisory Group LLC now owns 1,931 shares of the financial services provider’s stock valued at $262,000 after buying an additional 148 shares during the last quarter. Institutional investors own 62.45% of the company’s stock.

iShares Biotechnology ETF Price Performance

NASDAQ IBB opened at $133.40 on Friday. iShares Biotechnology ETF has a 1-year low of $111.83 and a 1-year high of $141.16. The stock has a 50-day moving average of $133.00 and a 200-day moving average of $130.59.

iShares Biotechnology ETF Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Friday, March 22nd were given a $0.126 dividend. The ex-dividend date of this dividend was Thursday, March 21st. This represents a $0.50 annualized dividend and a yield of 0.38%.

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.