Northwestern Mutual Wealth Management Co. Acquires 3,059 Shares of iShares Biotechnology ETF $IBB

Northwestern Mutual Wealth Management Co. grew its holdings in iShares Biotechnology ETF (NASDAQ:IBB) by 12.7% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 27,208 shares of the financial services provider’s stock after acquiring an additional 3,059 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in iShares Biotechnology ETF were worth $5,175,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in IBB. Wedbush Securities Inc. increased its stake in iShares Biotechnology ETF by 2.6% during the second quarter. Wedbush Securities Inc. now owns 4,235 shares of the financial services provider’s stock worth $805,000 after acquiring an additional 109 shares during the last quarter. Greenleaf Trust purchased a new stake in iShares Biotechnology ETF during the second quarter valued at approximately $214,000. Toth Financial Advisory Corp lifted its stake in shares of iShares Biotechnology ETF by 12.7% in the 2nd quarter. Toth Financial Advisory Corp now owns 42,261 shares of the financial services provider’s stock valued at $8,038,000 after purchasing an additional 4,762 shares during the last quarter. Navellier & Associates Inc. bought a new stake in shares of iShares Biotechnology ETF in the 2nd quarter valued at approximately $531,000. Finally, First Bancorp Inc ME purchased a new position in shares of iShares Biotechnology ETF in the 2nd quarter worth approximately $103,000. 62.45% of the stock is currently owned by institutional investors.

iShares Biotechnology ETF Price Performance

NASDAQ IBB opened at $213.81 on Friday. The business’s 50 day moving average price is $197.56 and its 200-day moving average price is $180.03. iShares Biotechnology ETF has a fifty-two week low of $138.79 and a fifty-two week high of $217.12.

iShares Biotechnology ETF Cuts Dividend

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

iShares Biotechnology ETF 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.