Cumberland Advisors Inc. Sells 2,880 Shares of iShares Biotechnology ETF (NASDAQ:IBB)

Cumberland Advisors Inc. decreased its position in shares of iShares Biotechnology ETF (NASDAQ:IBB) by 3.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 74,073 shares of the financial services provider’s stock after selling 2,880 shares during the period. iShares Biotechnology ETF accounts for approximately 3.9% of Cumberland Advisors Inc.’s portfolio, making the stock its 7th biggest holding. Cumberland Advisors Inc. owned about 0.15% of iShares Biotechnology ETF worth $9,793,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the company. Darwin Wealth Management LLC acquired a new position in shares of iShares Biotechnology ETF in the third quarter valued at approximately $29,000. Highline Wealth Partners LLC acquired a new position in iShares Biotechnology ETF during the third quarter worth $30,000. Ashton Thomas Securities LLC acquired a new position in iShares Biotechnology ETF during the third quarter worth $36,000. Modus Advisors LLC acquired a new position in iShares Biotechnology ETF during the fourth quarter worth $41,000. Finally, Voisard Asset Management Group Inc. acquired a new position in iShares Biotechnology ETF during the third quarter worth $59,000. Institutional investors and hedge funds own 62.45% of the company’s stock.

iShares Biotechnology ETF Trading Down 0.5 %

IBB stock traded down $0.64 on Wednesday, reaching $134.83. 1,339,853 shares of the company’s stock were exchanged, compared to its average volume of 1,185,399. The stock has a fifty day moving average of $138.42 and a 200-day moving average of $142.10. iShares Biotechnology ETF has a twelve month low of $123.60 and a twelve month high of $150.57.

iShares Biotechnology ETF Cuts Dividend

The company also recently announced a dividend, which was paid on Friday, December 20th. Shareholders of record on Tuesday, December 17th were issued a $0.0624 dividend. The ex-dividend date of this dividend 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.