iShares Biotechnology ETF $IBB Stake Lifted by Southern Capital Advisors LLC

Southern Capital Advisors LLC lifted its stake in shares of iShares Biotechnology ETF (NASDAQ:IBB) by 922.4% during the third quarter, Holdings Channel.com reports. The fund owned 22,482 shares of the financial services provider’s stock after purchasing an additional 20,283 shares during the period. iShares Biotechnology ETF accounts for about 1.5% of Southern Capital Advisors LLC’s holdings, making the stock its 19th biggest holding. Southern Capital Advisors LLC’s holdings in iShares Biotechnology ETF were worth $3,246,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Berger Financial Group Inc boosted its stake in iShares Biotechnology ETF by 2.7% during the 3rd quarter. Berger Financial Group Inc now owns 2,829 shares of the financial services provider’s stock valued at $408,000 after purchasing an additional 75 shares in the last quarter. Kanawha Capital Management LLC raised its stake in shares of iShares Biotechnology ETF by 0.9% in the 3rd quarter. Kanawha Capital Management LLC now owns 8,845 shares of the financial services provider’s stock worth $1,277,000 after buying an additional 78 shares in the last quarter. Martin & Co. Inc. TN lifted its holdings in shares of iShares Biotechnology ETF by 0.4% in the second quarter. Martin & Co. Inc. TN now owns 20,218 shares of the financial services provider’s stock valued at $2,558,000 after buying an additional 79 shares during the period. Choreo LLC boosted its stake in iShares Biotechnology ETF by 2.7% during the second quarter. Choreo LLC now owns 3,071 shares of the financial services provider’s stock valued at $389,000 after buying an additional 80 shares in the last quarter. Finally, Optimum Investment Advisors boosted its stake in iShares Biotechnology ETF by 2.6% during the second quarter. Optimum Investment Advisors now owns 3,345 shares of the financial services provider’s stock valued at $423,000 after buying an additional 84 shares in the last quarter. Institutional investors own 62.45% of the company’s stock.

iShares Biotechnology ETF Trading Down 1.0%

Shares of iShares Biotechnology ETF stock opened at $172.43 on Friday. The company’s 50-day moving average price is $171.45 and its two-hundred day moving average price is $154.60. iShares Biotechnology ETF has a 52 week low of $107.43 and a 52 week high of $179.64.

iShares Biotechnology ETF Increases Dividend

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

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.