CIBC Private Wealth Group LLC Grows Stock Position in iShares Biotechnology ETF (NASDAQ:IBB)

CIBC Private Wealth Group LLC increased its stake in shares of iShares Biotechnology ETF (NASDAQ:IBB) by 2.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,628 shares of the financial services provider’s stock after purchasing an additional 375 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in iShares Biotechnology ETF were worth $1,837,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of IBB. HHM Wealth Advisors LLC lifted its position in shares of iShares Biotechnology ETF by 200.0% during the 4th quarter. HHM Wealth Advisors LLC now owns 225 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 150 shares during the last quarter. VSM Wealth Advisory LLC purchased a new position in iShares Biotechnology ETF in the fourth quarter valued at $30,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in iShares Biotechnology ETF in the fourth quarter valued at $32,000. Newbridge Financial Services Group Inc. purchased a new stake in iShares Biotechnology ETF during the 4th quarter worth about $33,000. Finally, Hager Investment Management Services LLC acquired a new position in shares of iShares Biotechnology ETF during the 4th quarter worth about $34,000. Hedge funds and other institutional investors own 62.45% of the company’s stock.

iShares Biotechnology ETF Trading Down 2.4 %

IBB stock opened at $123.79 on Friday. The stock has a market cap of $5.85 billion, a P/E ratio of 27.83 and a beta of 0.84. iShares Biotechnology ETF has a twelve month low of $123.21 and a twelve month high of $150.57. The company’s 50 day moving average is $135.35 and its two-hundred day moving average is $138.39.

iShares Biotechnology ETF Increases Dividend

The firm also recently announced a dividend, which was paid on Friday, March 21st. Stockholders of record on Tuesday, March 18th were issued a $0.1212 dividend. This is a boost from iShares Biotechnology ETF’s previous dividend of $0.06. The ex-dividend date of this dividend was Tuesday, March 18th.

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.