iShares Biotechnology ETF (NASDAQ:IBB) Hits New 12-Month High – What’s Next?

Shares of iShares Biotechnology ETF (NASDAQ:IBB) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $196.03 and last traded at $196.03, with a volume of 7850 shares changing hands. The stock had previously closed at $195.70.

iShares Biotechnology ETF Stock Up 1.5%

The firm has a 50 day moving average of $174.23 and a two-hundred day moving average of $172.27.

iShares Biotechnology ETF Cuts Dividend

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

Institutional Investors Weigh In On iShares Biotechnology ETF

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Dynamic Wealth Strategies LLC boosted its stake in shares of iShares Biotechnology ETF by 16.6% during the fourth quarter. Dynamic Wealth Strategies LLC now owns 422 shares of the financial services provider’s stock valued at $71,000 after acquiring an additional 60 shares during the last quarter. Flagship Private Wealth LLC raised its position in shares of iShares Biotechnology ETF by 2.0% in the fourth quarter. Flagship Private Wealth LLC now owns 3,084 shares of the financial services provider’s stock valued at $521,000 after buying an additional 60 shares during the last quarter. Larson Financial Group LLC lifted its stake in shares of iShares Biotechnology ETF by 2.3% during the fourth quarter. Larson Financial Group LLC now owns 2,717 shares of the financial services provider’s stock valued at $458,000 after buying an additional 60 shares during the period. Parallel Advisors LLC grew its stake in iShares Biotechnology ETF by 8.8% in the 1st quarter. Parallel Advisors LLC now owns 744 shares of the financial services provider’s stock worth $126,000 after acquiring an additional 60 shares during the period. Finally, Webster Bank N. A. raised its holdings in iShares Biotechnology ETF by 1.0% in the 4th quarter. Webster Bank N. A. now owns 6,476 shares of the financial services provider’s stock valued at $1,093,000 after acquiring an additional 62 shares during the last quarter. Hedge funds and other institutional investors own 62.45% of the company’s stock.

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.