iShares Biotechnology ETF (NASDAQ:IBB) Stake Lessened by ArchPoint Investors

ArchPoint Investors trimmed its stake in shares of iShares Biotechnology ETF (NASDAQ:IBB) by 4.5% during the fourth quarter, HoldingsChannel reports. The fund owned 16,000 shares of the financial services provider’s stock after selling 750 shares during the quarter. ArchPoint Investors’ holdings in iShares Biotechnology ETF were worth $2,115,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. HHM Wealth Advisors LLC lifted its holdings in iShares Biotechnology ETF by 200.0% during the 4th quarter. HHM Wealth Advisors LLC now owns 225 shares of the financial services provider’s stock worth $30,000 after buying an additional 150 shares during the last quarter. VSM Wealth Advisory LLC bought a new stake in shares of iShares Biotechnology ETF in the 4th quarter valued at approximately $30,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in shares of iShares Biotechnology ETF during the 4th quarter valued at approximately $32,000. Newbridge Financial Services Group Inc. bought a new position in iShares Biotechnology ETF during the fourth quarter worth $33,000. Finally, Hager Investment Management Services LLC acquired a new position in iShares Biotechnology ETF in the fourth quarter worth $34,000. 62.45% of the stock is owned by institutional investors and hedge funds.

iShares Biotechnology ETF Stock Down 5.4 %

Shares of NASDAQ:IBB opened at $117.16 on Monday. The company has a market cap of $5.28 billion, a PE ratio of 24.21 and a beta of 0.84. iShares Biotechnology ETF has a fifty-two week low of $114.32 and a fifty-two week high of $150.57. The firm has a 50-day simple moving average of $134.95 and a 200 day simple moving average of $138.05.

iShares Biotechnology ETF Increases Dividend

The company also recently declared a dividend, which was paid on Friday, March 21st. Stockholders of record on Tuesday, March 18th were issued a dividend of $0.1212 per share. This is an increase from iShares Biotechnology ETF’s previous dividend of $0.06. The ex-dividend date of this dividend was Tuesday, March 18th.

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.