Integrated Wealth Concepts LLC Reduces Stock Position in iShares Biotechnology ETF (NASDAQ:IBB)

Integrated Wealth Concepts LLC trimmed its holdings in shares of iShares Biotechnology ETF (NASDAQ:IBB) by 18.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,452 shares of the financial services provider’s stock after selling 1,868 shares during the quarter. Integrated Wealth Concepts LLC’s holdings in iShares Biotechnology ETF were worth $1,117,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. HHM Wealth Advisors LLC increased its position in iShares Biotechnology ETF by 200.0% during the fourth quarter. HHM Wealth Advisors LLC now owns 225 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 150 shares during the last quarter. VSM Wealth Advisory LLC purchased a new position in shares of iShares Biotechnology ETF during the 4th quarter worth about $30,000. Bradley & Co. Private Wealth Management LLC bought a new position in iShares Biotechnology ETF during the 4th quarter valued at about $32,000. Newbridge Financial Services Group Inc. purchased a new stake in iShares Biotechnology ETF in the 4th quarter worth about $33,000. Finally, Hager Investment Management Services LLC bought a new stake in iShares Biotechnology ETF in the fourth quarter worth about $34,000. 62.45% of the stock is currently owned by hedge funds and other institutional investors.

iShares Biotechnology ETF Stock Performance

IBB opened at $124.75 on Wednesday. The stock’s 50 day moving average price is $127.72 and its 200-day moving average price is $134.74. iShares Biotechnology ETF has a one year low of $107.43 and a one year high of $150.57. The stock has a market cap of $5.51 billion, a price-to-earnings ratio of 25.09 and a beta of 0.84.

iShares Biotechnology ETF Increases Dividend

The firm also recently disclosed a dividend, which was paid on Friday, March 21st. Shareholders of record on Tuesday, March 18th were given a $0.1212 dividend. The ex-dividend date was Tuesday, March 18th. This is an increase from iShares Biotechnology ETF’s previous dividend of $0.06.

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.