PNC Financial Services Group Inc. Sells 6,244 Shares of iShares Biotechnology ETF $IBB

PNC Financial Services Group Inc. cut its holdings in shares of iShares Biotechnology ETF (NASDAQ:IBB) by 2.0% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 306,468 shares of the financial services provider’s stock after selling 6,244 shares during the quarter. PNC Financial Services Group Inc.’s holdings in iShares Biotechnology ETF were worth $44,245,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in IBB. Citigroup Inc. increased its position in iShares Biotechnology ETF by 27.0% in the 2nd quarter. Citigroup Inc. now owns 4,073,967 shares of the financial services provider’s stock valued at $515,398,000 after acquiring an additional 865,823 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of iShares Biotechnology ETF by 74.2% during the second quarter. JPMorgan Chase & Co. now owns 833,196 shares of the financial services provider’s stock worth $105,408,000 after purchasing an additional 355,000 shares during the period. Bronte Capital Management Pty Ltd. grew its stake in shares of iShares Biotechnology ETF by 12.6% in the second quarter. Bronte Capital Management Pty Ltd. now owns 295,346 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 32,947 shares during the last quarter. Employees Retirement System of Texas bought a new stake in shares of iShares Biotechnology ETF in the second quarter worth $25,049,000. Finally, Thrivent Financial for Lutherans increased its holdings in iShares Biotechnology ETF by 5.8% in the third quarter. Thrivent Financial for Lutherans now owns 111,863 shares of the financial services provider’s stock valued at $16,149,000 after purchasing an additional 6,157 shares during the period. 62.45% of the stock is currently owned by institutional investors and hedge funds.

iShares Biotechnology ETF Stock Up 1.1%

Shares of NASDAQ:IBB opened at $172.57 on Tuesday. iShares Biotechnology ETF has a 12-month low of $107.43 and a 12-month high of $179.64. The business has a fifty day simple moving average of $171.73 and a 200 day simple moving average of $157.85.

iShares Biotechnology ETF Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Tuesday, December 16th were paid a $0.1831 dividend. This is an increase from iShares Biotechnology ETF’s previous quarterly dividend of $0.08. This represents a $0.73 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Tuesday, December 16th.

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.