iShares Biotechnology ETF (NASDAQ:IBB) Reaches New 52-Week High – Time to Buy?

iShares Biotechnology ETF (NASDAQ:IBB)’s stock price reached a new 52-week high on Monday . The stock traded as high as $199.89 and last traded at $199.61, with a volume of 135462 shares changing hands. The stock had previously closed at $197.71.

iShares Biotechnology ETF Stock Up 0.7%

The business’s 50-day moving average price is $183.84 and its 200-day moving average price is $175.39.

iShares Biotechnology ETF Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Monday, June 15th were issued a dividend of $0.0238 per share. This represents a $0.10 annualized dividend and a dividend yield of 0.0%. The ex-dividend date was Monday, June 15th.

Institutional Trading of iShares Biotechnology ETF

Hedge funds and other institutional investors have recently modified their holdings of the company. Citigroup Inc. increased its holdings in iShares Biotechnology ETF by 40.9% in the fourth quarter. Citigroup Inc. now owns 5,242,688 shares of the financial services provider’s stock worth $884,808,000 after buying an additional 1,521,992 shares during the last quarter. Raymond James Financial Inc. lifted its stake in iShares Biotechnology ETF by 286.2% in the fourth quarter. Raymond James Financial Inc. now owns 994,311 shares of the financial services provider’s stock valued at $167,810,000 after acquiring an additional 736,881 shares during the last quarter. Bank of America Corp DE grew its position in iShares Biotechnology ETF by 10.8% in the first quarter. Bank of America Corp DE now owns 7,259,501 shares of the financial services provider’s stock worth $1,225,767,000 after acquiring an additional 707,343 shares in the last quarter. WestEnd Advisors LLC bought a new stake in iShares Biotechnology ETF in the fourth quarter worth approximately $106,276,000. Finally, Truist Financial Corp grew its position in iShares Biotechnology ETF by 2,239.6% in the fourth quarter. Truist Financial Corp now owns 642,023 shares of the financial services provider’s stock worth $108,354,000 after acquiring an additional 614,582 shares in the last quarter. 62.45% of the stock is currently owned by hedge funds and other institutional investors.

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.