Short Interest in iShares Biotechnology ETF (NASDAQ:IBB) Declines By 9.2%

iShares Biotechnology ETF (NASDAQ:IBB) was the target of a significant drop in short interest in January. As of January 31st, there was short interest totalling 10,090,000 shares, a drop of 9.2% from the January 15th total of 11,110,000 shares. Based on an average trading volume of 1,499,800 shares, the days-to-cover ratio is presently 6.7 days.

Institutional Investors Weigh In On iShares Biotechnology ETF

A number of institutional investors have recently modified their holdings of IBB. Good Life Advisors LLC grew its stake in shares of iShares Biotechnology ETF by 59.4% in the third quarter. Good Life Advisors LLC now owns 2,666 shares of the financial services provider’s stock valued at $388,000 after buying an additional 993 shares in the last quarter. Werba Rubin Papier Wealth Management grew its stake in iShares Biotechnology ETF by 2.7% during the 3rd quarter. Werba Rubin Papier Wealth Management now owns 2,918 shares of the financial services provider’s stock worth $425,000 after purchasing an additional 76 shares in the last quarter. Toth Financial Advisory Corp grew its stake in iShares Biotechnology ETF by 19.1% during the 3rd quarter. Toth Financial Advisory Corp now owns 41,862 shares of the financial services provider’s stock worth $6,095,000 after purchasing an additional 6,715 shares in the last quarter. Sequoia Financial Advisors LLC grew its stake in iShares Biotechnology ETF by 8.3% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 2,608 shares of the financial services provider’s stock worth $380,000 after purchasing an additional 199 shares in the last quarter. Finally, Eastern Bank acquired a new position in iShares Biotechnology ETF during the 3rd quarter worth $65,000. 62.45% of the stock is owned by institutional investors and hedge funds.

iShares Biotechnology ETF Price Performance

NASDAQ:IBB traded down $0.49 on Monday, reaching $136.55. The company’s stock had a trading volume of 1,190,770 shares, compared to its average volume of 1,493,956. iShares Biotechnology ETF has a 12-month low of $123.60 and a 12-month high of $150.57. The stock has a 50 day moving average price of $135.73 and a 200 day moving average price of $140.93.

iShares Biotechnology ETF Cuts Dividend

The firm also recently announced a dividend, which was paid on Friday, December 20th. Shareholders of record on Tuesday, December 17th were given a $0.0624 dividend. The ex-dividend date of this dividend was Tuesday, December 17th.

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.