PNC Financial Services Group Inc. Acquires 18,514 Shares of iShares Biotechnology ETF $IBB

PNC Financial Services Group Inc. boosted its holdings in iShares Biotechnology ETF (NASDAQ:IBB) by 6.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 324,982 shares of the financial services provider’s stock after purchasing an additional 18,514 shares during the quarter. PNC Financial Services Group Inc.’s holdings in iShares Biotechnology ETF were worth $54,847,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Darwin Wealth Management LLC purchased a new position in shares of iShares Biotechnology ETF in the second quarter valued at $25,000. Cornerstone Planning Group LLC purchased a new position in shares of iShares Biotechnology ETF in the fourth quarter valued at $35,000. Strategic Wealth Advisors LLC purchased a new position in shares of iShares Biotechnology ETF in the fourth quarter valued at $35,000. Parkside Financial Bank & Trust grew its holdings in shares of iShares Biotechnology ETF by 48.6% in the third quarter. Parkside Financial Bank & Trust now owns 266 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 87 shares in the last quarter. Finally, Close Asset Management Ltd grew its holdings in shares of iShares Biotechnology ETF by 25.5% in the third quarter. Close Asset Management Ltd now owns 345 shares of the financial services provider’s stock valued at $50,000 after purchasing an additional 70 shares in the last quarter. 62.45% of the stock is owned by hedge funds and other institutional investors.

iShares Biotechnology ETF Price Performance

IBB stock opened at $169.06 on Friday. The firm has a fifty day moving average price of $168.95 and a 200 day moving average price of $169.90. iShares Biotechnology ETF has a fifty-two week low of $119.78 and a fifty-two week high of $179.64.

iShares Biotechnology ETF Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 20th. Investors of record on Tuesday, March 17th were issued a $0.1218 dividend. The ex-dividend date of this dividend was Tuesday, March 17th. This represents a $0.49 dividend on an annualized basis and a dividend yield of 0.3%.

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.