iShares Biotechnology ETF (NASDAQ:IBB) Sets New 12-Month High – Should You Buy?

iShares Biotechnology ETF (NASDAQ:IBB) reached a new 52-week high during trading on Monday . The stock traded as high as $166.30 and last traded at $166.5530, with a volume of 1509811 shares changing hands. The stock had previously closed at $164.19.

iShares Biotechnology ETF Price Performance

The stock’s 50 day simple moving average is $151.93 and its two-hundred day simple moving average is $137.68.

iShares Biotechnology ETF Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Tuesday, September 16th were issued a dividend of $0.0828 per share. This represents a $0.33 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend was Tuesday, September 16th.

Institutional Investors Weigh In On iShares Biotechnology ETF

A number of institutional investors have recently added to or reduced their stakes in the stock. Darwin Wealth Management LLC bought a new position in shares of iShares Biotechnology ETF during the 2nd quarter valued at approximately $25,000. Ramirez Asset Management Inc. bought a new position in iShares Biotechnology ETF during the 1st quarter worth about $26,000. Berkshire Money Management Inc. purchased a new position in shares of iShares Biotechnology ETF in the second quarter worth about $28,000. Financial Gravity Companies Inc. acquired a new position in iShares Biotechnology ETF during the second quarter valued at $29,000. Finally, Harbor Asset Planning Inc. acquired a new position in shares of iShares Biotechnology ETF in the second quarter worth about $31,000. 62.45% of the stock is owned by hedge funds and other 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.