Investors Purchase Large Volume of iShares Biotechnology ETF Call Options (NASDAQ:IBB)

iShares Biotechnology ETF (NASDAQ:IBB) was the recipient of some unusual options trading on Tuesday. Stock investors bought 4,479 call options on the company. This represents an increase of approximately 266% compared to the average volume of 1,225 call options.

Hedge Funds Weigh In On iShares Biotechnology ETF

Institutional investors have recently modified their holdings of the company. Citigroup Inc. raised its holdings in iShares Biotechnology ETF by 40.9% in the 4th quarter. Citigroup Inc. now owns 5,242,688 shares of the financial services provider’s stock worth $884,808,000 after acquiring an additional 1,521,992 shares during the period. BNP Paribas Financial Markets raised its stake in 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 valued at $276,526,000 after purchasing an additional 1,451,820 shares during the last quarter. Raymond James Financial Inc. grew its position in iShares Biotechnology ETF by 286.2% in the 4th quarter. Raymond James Financial Inc. now owns 994,311 shares of the financial services provider’s stock worth $167,810,000 after purchasing an additional 736,881 shares during the last quarter. Bank of America Corp DE lifted its stake in shares of iShares Biotechnology ETF by 10.8% in the first quarter. Bank of America Corp DE now owns 7,259,501 shares of the financial services provider’s stock valued at $1,225,767,000 after buying an additional 707,343 shares during the period. Finally, WestEnd Advisors LLC bought a new position in iShares Biotechnology ETF during the fourth quarter valued at about $106,276,000. Institutional investors own 62.45% of the company’s stock.

iShares Biotechnology ETF Trading Up 1.2%

Shares of NASDAQ IBB traded up $2.11 during trading hours on Tuesday, hitting $179.11. The stock had a trading volume of 470,062 shares, compared to its average volume of 1,641,387. The firm’s 50-day moving average price is $170.71 and its two-hundred day moving average price is $170.72. iShares Biotechnology ETF has a 52 week low of $125.25 and a 52 week high of $179.64.

iShares Biotechnology ETF Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Monday, June 15th were issued a $0.0238 dividend. The ex-dividend date was Monday, June 15th. This represents a $0.10 dividend on an annualized basis and a yield of 0.1%.

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.