Miller Investment Management LP Lowers Holdings in iShares Biotechnology ETF $IBB

Miller Investment Management LP decreased its holdings in shares of iShares Biotechnology ETF (NASDAQ:IBB) by 51.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 37,446 shares of the financial services provider’s stock after selling 39,221 shares during the quarter. iShares Biotechnology ETF comprises 0.6% of Miller Investment Management LP’s holdings, making the stock its 25th largest holding. Miller Investment Management LP owned approximately 0.08% of iShares Biotechnology ETF worth $6,320,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. BNP Paribas Financial Markets grew its holdings in shares of iShares Biotechnology ETF by 313.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,915,395 shares of the financial services provider’s stock worth $276,526,000 after purchasing an additional 1,451,820 shares during the period. WestEnd Advisors LLC purchased a new stake in iShares Biotechnology ETF in the 4th quarter valued at about $106,276,000. Truist Financial Corp raised its holdings in iShares Biotechnology ETF by 2,239.6% in the 4th quarter. Truist Financial Corp now owns 642,023 shares of the financial services provider’s stock valued at $108,354,000 after buying an additional 614,582 shares during the period. LPL Financial LLC lifted its position in iShares Biotechnology ETF by 145.9% in the fourth quarter. LPL Financial LLC now owns 992,799 shares of the financial services provider’s stock valued at $167,555,000 after buying an additional 589,033 shares during the last quarter. Finally, Janney Montgomery Scott LLC boosted its stake in iShares Biotechnology ETF by 1,871.5% during the fourth quarter. Janney Montgomery Scott LLC now owns 619,550 shares of the financial services provider’s stock worth $104,562,000 after buying an additional 588,124 shares during the period. Hedge funds and other institutional investors own 62.45% of the company’s stock.

iShares Biotechnology ETF Trading Down 2.0%

Shares of IBB opened at $165.93 on Thursday. iShares Biotechnology ETF has a 1-year low of $123.61 and a 1-year high of $179.64. The firm has a 50-day simple moving average of $170.24 and a two-hundred day simple moving average of $170.63.

iShares Biotechnology ETF Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 20th. Investors of record on Tuesday, March 17th were given a dividend of $0.1218 per share. 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%.

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.