Summit Global Investments Acquires Shares of 3,471 iShares Biotechnology ETF $IBB

Summit Global Investments acquired a new position in shares of iShares Biotechnology ETF (NASDAQ:IBB) in the first quarter, according to its most recent disclosure with the SEC. The firm acquired 3,471 shares of the financial services provider’s stock, valued at approximately $586,000.

A number of other hedge funds also recently added to or reduced their stakes in IBB. Brighton Jones LLC acquired a new stake in shares of iShares Biotechnology ETF during the fourth quarter worth $201,000. AQR Capital Management LLC purchased a new position in iShares Biotechnology ETF during the 1st quarter worth $455,000. Millennium Management LLC lifted its stake in shares of iShares Biotechnology ETF by 140.8% in the 1st quarter. Millennium Management LLC now owns 41,676 shares of the financial services provider’s stock worth $5,330,000 after acquiring an additional 143,893 shares during the period. M&T Bank Corp lifted its stake in shares of iShares Biotechnology ETF by 39.3% in the 2nd quarter. M&T Bank Corp now owns 2,660 shares of the financial services provider’s stock worth $337,000 after acquiring an additional 750 shares during the period. Finally, Walleye Capital LLC lifted its stake in shares of iShares Biotechnology ETF by 26.8% in the 2nd quarter. Walleye Capital LLC now owns 4,655 shares of the financial services provider’s stock worth $589,000 after acquiring an additional 985 shares during the period. 62.45% of the stock is owned by institutional investors and hedge funds.

iShares Biotechnology ETF Trading Down 1.2%

Shares of iShares Biotechnology ETF stock opened at $187.00 on Thursday. iShares Biotechnology ETF has a 52-week low of $130.25 and a 52-week high of $199.05. The company’s 50-day simple moving average is $178.75 and its 200-day simple moving average is $173.81.

iShares Biotechnology ETF Cuts Dividend

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

iShares Biotechnology ETF Company 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.