iShares Biotechnology ETF Target of Unusually Large Options Trading (NASDAQ:IBB)

iShares Biotechnology ETF (NASDAQ:IBB) was the recipient of unusually large options trading activity on Wednesday. Traders bought 9,365 put options on the stock. This is an increase of 284% compared to the typical volume of 2,439 put options.

iShares Biotechnology ETF Stock Up 1.7%

Shares of iShares Biotechnology ETF stock traded up $2.79 during trading on Wednesday, hitting $171.29. The company’s stock had a trading volume of 321,590 shares, compared to its average volume of 1,830,372. The company has a fifty day simple moving average of $170.28 and a two-hundred day simple moving average of $165.67. iShares Biotechnology ETF has a 52 week low of $107.43 and a 52 week high of $179.64.

iShares Biotechnology ETF Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 20th. Investors of record on Tuesday, March 17th were paid a $0.1218 dividend. This represents a $0.49 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Tuesday, March 17th.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of IBB. Brighton Jones LLC bought a new position in shares of iShares Biotechnology ETF in the 4th quarter worth about $201,000. AQR Capital Management LLC bought a new position in shares of iShares Biotechnology ETF in the 1st quarter worth about $455,000. Millennium Management LLC increased its stake in shares of iShares Biotechnology ETF by 140.8% in the 1st quarter. Millennium Management LLC now owns 41,676 shares of the financial services provider’s stock worth $5,330,000 after acquiring an additional 143,893 shares in the last quarter. M&T Bank Corp increased its stake in shares of iShares Biotechnology ETF by 39.3% in the 2nd quarter. M&T Bank Corp now owns 2,660 shares of the financial services provider’s stock worth $337,000 after acquiring an additional 750 shares in the last quarter. Finally, Walleye Capital LLC increased its stake in shares of iShares Biotechnology ETF by 26.8% in the 2nd quarter. Walleye Capital LLC now owns 4,655 shares of the financial services provider’s stock worth $589,000 after acquiring an additional 985 shares in the last quarter. 62.45% of the stock is currently owned by institutional investors.

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.