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

iShares Biotechnology ETF (NASDAQ:IBB) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $199.89 and last traded at $199.61, with a volume of 135462 shares changing hands. The stock had previously closed at $197.71.

iShares Biotechnology ETF Stock Performance

The firm has a 50-day moving average price of $183.84 and a 200-day moving average price of $175.39.

iShares Biotechnology ETF Cuts Dividend

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

Institutional Investors Weigh In On iShares Biotechnology ETF

Several hedge funds and other institutional investors have recently bought and sold shares of IBB. WorthPointe LLC purchased a new stake in shares of iShares Biotechnology ETF in the fourth quarter valued at $1,424,000. Assetmark Inc. grew its holdings in shares of iShares Biotechnology ETF by 150,979.6% during the fourth quarter. Assetmark Inc. now owns 74,029 shares of the financial services provider’s stock valued at $12,494,000 after buying an additional 73,980 shares in the last quarter. World Investment Advisors raised its position in iShares Biotechnology ETF by 50.4% during the fourth quarter. World Investment Advisors now owns 11,853 shares of the financial services provider’s stock valued at $2,000,000 after buying an additional 3,973 shares during the period. HBW Advisory Services LLC acquired a new position in iShares Biotechnology ETF during the fourth quarter valued at $1,027,000. Finally, WestEnd Advisors LLC acquired a new position in iShares Biotechnology ETF during the fourth quarter valued at $106,276,000. 62.45% of the stock is currently owned by institutional investors.

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.