SOL Capital Management CO Cuts Stake in iShares Biotechnology ETF $IBB

SOL Capital Management CO cut its holdings in iShares Biotechnology ETF (NASDAQ:IBB) by 19.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 29,339 shares of the financial services provider’s stock after selling 7,168 shares during the period. SOL Capital Management CO owned 0.07% of iShares Biotechnology ETF worth $4,236,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in IBB. SG Americas Securities LLC boosted its stake in iShares Biotechnology ETF by 96.3% in the third quarter. SG Americas Securities LLC now owns 28,569 shares of the financial services provider’s stock worth $4,125,000 after buying an additional 14,016 shares in the last quarter. Viewpoint Capital Management LLC grew its stake in shares of iShares Biotechnology ETF by 1,532.1% in the third quarter. Viewpoint Capital Management LLC now owns 12,730 shares of the financial services provider’s stock worth $1,838,000 after purchasing an additional 11,950 shares during the last quarter. Bronte Capital Management Pty Ltd. raised its stake in iShares Biotechnology ETF by 12.6% in the second quarter. Bronte Capital Management Pty Ltd. now owns 295,346 shares of the financial services provider’s stock worth $37,000 after buying an additional 32,947 shares in the last quarter. Employees Retirement System of Texas bought a new position in shares of iShares Biotechnology ETF in the 2nd quarter worth about $25,049,000. Finally, D.A. Davidson & CO. grew its position in iShares Biotechnology ETF by 181.0% during the 3rd quarter. D.A. Davidson & CO. now owns 13,701 shares of the financial services provider’s stock valued at $1,978,000 after purchasing an additional 8,825 shares during the last quarter. Institutional investors own 62.45% of the company’s stock.

iShares Biotechnology ETF Stock Down 0.4%

Shares of NASDAQ IBB opened at $169.96 on Friday. iShares Biotechnology ETF has a 52-week low of $107.43 and a 52-week high of $179.64. The firm’s 50-day moving average price is $169.50 and its 200-day moving average price is $151.38.

iShares Biotechnology ETF Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Tuesday, December 16th were given a $0.1831 dividend. The ex-dividend date was Tuesday, December 16th. This is a positive change from iShares Biotechnology ETF’s previous quarterly dividend of $0.08. This represents a $0.73 annualized dividend and a dividend yield of 0.4%.

iShares Biotechnology ETF 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.