MGB Wealth Management LLC Lowers Stake in iShares Biotechnology ETF (NASDAQ:IBB)

MGB Wealth Management LLC cut its position in iShares Biotechnology ETF (NASDAQ:IBB) by 36.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,800 shares of the financial services provider’s stock after selling 1,604 shares during the period. MGB Wealth Management LLC’s holdings in iShares Biotechnology ETF were worth $370,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of IBB. Valeo Financial Advisors LLC purchased a new stake in iShares Biotechnology ETF in the 3rd quarter worth $206,000. Prism Advisors Inc. purchased a new stake in shares of iShares Biotechnology ETF during the third quarter worth about $206,000. SeaCrest Wealth Management LLC grew its position in shares of iShares Biotechnology ETF by 203.7% during the third quarter. SeaCrest Wealth Management LLC now owns 10,213 shares of the financial services provider’s stock worth $1,487,000 after purchasing an additional 6,850 shares in the last quarter. SPC Financial Inc. raised its stake in iShares Biotechnology ETF by 2.4% during the 3rd quarter. SPC Financial Inc. now owns 3,265 shares of the financial services provider’s stock valued at $475,000 after purchasing an additional 75 shares during the period. Finally, Good Life Advisors LLC lifted its holdings in iShares Biotechnology ETF by 59.4% in the 3rd quarter. Good Life Advisors LLC now owns 2,666 shares of the financial services provider’s stock worth $388,000 after purchasing an additional 993 shares in the last quarter. 62.45% of the stock is owned by hedge funds and other institutional investors.

iShares Biotechnology ETF Stock Performance

IBB stock opened at $135.47 on Thursday. iShares Biotechnology ETF has a 1-year low of $123.60 and a 1-year high of $150.57. The business has a 50 day simple moving average of $135.88 and a two-hundred day simple moving average of $141.13.

iShares Biotechnology ETF Cuts Dividend

The business also recently announced a dividend, which was paid on Friday, December 20th. Investors of record on Tuesday, December 17th were given a dividend of $0.0624 per share. The ex-dividend date was Tuesday, December 17th.

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.