Prudential PLC Reduces Position in iShares Biotechnology ETF (NASDAQ:IBB)

Prudential PLC decreased its holdings in iShares Biotechnology ETF (NASDAQ:IBB) by 23.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 10,750 shares of the financial services provider’s stock after selling 3,310 shares during the period. Prudential PLC’s holdings in iShares Biotechnology ETF were worth $1,421,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. HHM Wealth Advisors LLC raised its stake in shares of 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 valued at $30,000 after purchasing an additional 150 shares during the period. VSM Wealth Advisory LLC bought a new stake in shares of iShares Biotechnology ETF during the fourth quarter valued at about $30,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of iShares Biotechnology ETF in the fourth quarter worth about $32,000. Newbridge Financial Services Group Inc. bought a new position in shares of iShares Biotechnology ETF in the fourth quarter valued at approximately $33,000. Finally, Hager Investment Management Services LLC purchased a new position in iShares Biotechnology ETF during the fourth quarter valued at approximately $34,000. 62.45% of the stock is currently owned by hedge funds and other institutional investors.

iShares Biotechnology ETF Price Performance

NASDAQ IBB opened at $117.16 on Monday. The company’s 50 day simple moving average is $134.95 and its two-hundred day simple moving average is $138.05. iShares Biotechnology ETF has a 1 year low of $114.46 and a 1 year high of $150.57. The stock has a market capitalization of $5.28 billion, a PE ratio of 24.21 and a beta of 0.84.

iShares Biotechnology ETF Increases Dividend

The firm also recently disclosed a dividend, which was paid on Friday, March 21st. Investors of record on Tuesday, March 18th were paid a dividend of $0.1212 per share. This is a positive change from iShares Biotechnology ETF’s previous dividend of $0.06. The ex-dividend date was Tuesday, March 18th.

About iShares Biotechnology ETF

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.