iShares Biotechnology ETF $IBB Shares Sold by Miller Investment Management LP

Miller Investment Management LP lessened its position in iShares Biotechnology ETF (NASDAQ:IBB) by 51.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 37,446 shares of the financial services provider’s stock after selling 39,221 shares during the quarter. iShares Biotechnology ETF makes up 0.6% of Miller Investment Management LP’s investment portfolio, making the stock its 25th largest holding. Miller Investment Management LP’s holdings in iShares Biotechnology ETF were worth $6,320,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of IBB. J.Safra Asset Management Corp purchased a new stake in iShares Biotechnology ETF during the fourth quarter worth about $203,000. Janney Montgomery Scott LLC lifted its position in shares of iShares Biotechnology ETF by 1,871.5% during the fourth quarter. Janney Montgomery Scott LLC now owns 619,550 shares of the financial services provider’s stock worth $104,562,000 after purchasing an additional 588,124 shares in the last quarter. Simplex Trading LLC purchased a new position in shares of iShares Biotechnology ETF in the fourth quarter valued at approximately $5,718,000. Marvin & Palmer Associates Inc. purchased a new position in shares of iShares Biotechnology ETF in the fourth quarter valued at approximately $7,125,000. Finally, Pettyjohn Wood & White Inc. acquired a new position in shares of iShares Biotechnology ETF in the fourth quarter valued at approximately $214,000. Institutional investors and hedge funds own 62.45% of the company’s stock.

iShares Biotechnology ETF Stock Down 2.0%

Shares of IBB opened at $165.93 on Thursday. iShares Biotechnology ETF has a fifty-two week low of $123.61 and a fifty-two week high of $179.64. The firm’s 50 day moving average price is $170.24 and its 200 day moving average price is $170.63.

iShares Biotechnology ETF Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 20th. Stockholders of record on Tuesday, March 17th were given a dividend of $0.1218 per share. The ex-dividend date of this dividend was Tuesday, March 17th. This represents a $0.49 dividend on an annualized basis and a dividend yield of 0.3%.

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.