Hoey Investments Inc. Buys 3,755 Shares of iShares Biotechnology ETF $IBB

Hoey Investments Inc. grew its position in shares of iShares Biotechnology ETF (NASDAQ:IBB) by 83.3% during the first quarter, Holdings Channel.com reports. The fund owned 8,263 shares of the financial services provider’s stock after purchasing an additional 3,755 shares during the quarter. iShares Biotechnology ETF comprises 0.2% of Hoey Investments Inc.’s portfolio, making the stock its 26th biggest holding. Hoey Investments Inc.’s holdings in iShares Biotechnology ETF were worth $1,395,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Citigroup Inc. lifted its position in shares of iShares Biotechnology ETF by 40.9% during the fourth quarter. Citigroup Inc. now owns 5,242,688 shares of the financial services provider’s stock valued at $884,808,000 after purchasing an additional 1,521,992 shares in the last quarter. Morgan Stanley boosted its holdings in iShares Biotechnology ETF by 2.5% during the fourth quarter. Morgan Stanley now owns 3,204,126 shares of the financial services provider’s stock worth $540,760,000 after purchasing an additional 76,978 shares during the last quarter. BNP Paribas Financial Markets grew its position in iShares Biotechnology ETF by 11.4% in the 4th quarter. BNP Paribas Financial Markets now owns 2,133,461 shares of the financial services provider’s stock worth $360,064,000 after purchasing an additional 218,066 shares in 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 in the last quarter. Finally, LPL Financial LLC increased its stake in iShares Biotechnology ETF by 145.9% in the 4th 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. Institutional investors own 62.45% of the company’s stock.

iShares Biotechnology ETF Price Performance

iShares Biotechnology ETF stock opened at $196.83 on Tuesday. iShares Biotechnology ETF has a 52 week low of $128.06 and a 52 week high of $198.13. The company’s 50 day moving average price is $173.66 and its two-hundred day moving average price is $172.05.

iShares Biotechnology ETF Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Monday, June 15th were issued a dividend of $0.0238 per share. This represents a $0.10 dividend on an annualized basis and a yield of 0.0%. The ex-dividend date was Monday, June 15th.

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.