Parisi Gray Wealth Management Makes New $2.22 Million Investment in iShares Biotechnology ETF $IBB

Parisi Gray Wealth Management bought a new position in iShares Biotechnology ETF (NASDAQ:IBB) during the third quarter, according to its most recent filing with the SEC. The firm bought 10,561 shares of the financial services provider’s stock, valued at approximately $2,223,000.

Several other hedge funds have also bought and sold shares of IBB. Bank of America Corp DE increased its stake in iShares Biotechnology ETF by 10.8% during the 1st quarter. Bank of America Corp DE now owns 7,259,501 shares of the financial services provider’s stock valued at $1,225,767,000 after purchasing an additional 707,343 shares in the last quarter. Royal Bank of Canada raised its holdings in iShares Biotechnology ETF by 1.0% during the first quarter. Royal Bank of Canada now owns 737,128 shares of the financial services provider’s stock worth $124,464,000 after buying an additional 7,434 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in shares of iShares Biotechnology ETF by 5.4% in the first quarter. Janney Montgomery Scott LLC now owns 652,818 shares of the financial services provider’s stock valued at $110,228,000 after buying an additional 33,268 shares in the last quarter. Rockefeller Capital Management L.P. lifted its stake in shares of iShares Biotechnology ETF by 16.6% in the fourth quarter. Rockefeller Capital Management L.P. now owns 147,707 shares of the financial services provider’s stock valued at $24,929,000 after buying an additional 21,052 shares in the last quarter. Finally, Cetera Investment Advisers grew its holdings in shares of iShares Biotechnology ETF by 9.4% during the first quarter. Cetera Investment Advisers now owns 128,530 shares of the financial services provider’s stock valued at $21,702,000 after buying an additional 10,994 shares during the last quarter. Institutional investors and hedge funds own 62.45% of the company’s stock.

iShares Biotechnology ETF Stock Down 2.6%

Shares of NASDAQ IBB traded down $5.42 during mid-day trading on Friday, reaching $201.99. 1,762,480 shares of the company’s stock traded hands, compared to its average volume of 1,704,677. The business has a 50-day simple moving average of $206.96 and a 200 day simple moving average of $187.87. iShares Biotechnology ETF has a 1-year low of $152.17 and a 1-year high of $217.12.

iShares Biotechnology ETF Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 18th. Investors of record on Tuesday, September 15th were issued a $0.0112 dividend. The ex-dividend date was Tuesday, September 15th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. This is a drop from iShares Biotechnology ETF’s previous quarterly dividend of $0.0238.

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.