Pinnacle Wealth Management Advisory Group LLC Acquires 3,417 Shares of iShares Biotechnology ETF $IBB

Pinnacle Wealth Management Advisory Group LLC lifted its position in shares of iShares Biotechnology ETF (NASDAQ:IBB) by 151.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 5,669 shares of the financial services provider’s stock after purchasing an additional 3,417 shares during the quarter. Pinnacle Wealth Management Advisory Group LLC’s holdings in iShares Biotechnology ETF were worth $957,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Darwin Wealth Management LLC acquired a new stake in shares of iShares Biotechnology ETF during the 2nd quarter worth approximately $25,000. Cornerstone Planning Group LLC acquired a new stake in shares of iShares Biotechnology ETF during the 4th quarter worth approximately $35,000. Ashton Thomas Securities LLC acquired a new stake in shares of iShares Biotechnology ETF during the 3rd quarter worth approximately $36,000. Parkside Financial Bank & Trust grew its holdings in shares of iShares Biotechnology ETF by 48.6% during the 3rd quarter. Parkside Financial Bank & Trust now owns 266 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 87 shares in the last quarter. Finally, Close Asset Management Ltd grew its holdings in shares of iShares Biotechnology ETF by 25.5% during the 3rd quarter. Close Asset Management Ltd now owns 345 shares of the financial services provider’s stock worth $50,000 after purchasing an additional 70 shares in the last quarter. Institutional investors and hedge funds own 62.45% of the company’s stock.

iShares Biotechnology ETF Price Performance

Shares of NASDAQ:IBB opened at $170.16 on Tuesday. iShares Biotechnology ETF has a 1-year low of $116.25 and a 1-year high of $179.64. The business’s 50 day moving average is $169.84 and its 200-day moving average is $168.65.

iShares Biotechnology ETF Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 20th. Stockholders of record on Tuesday, March 17th were issued a dividend of $0.1218 per share. This represents a $0.49 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Tuesday, March 17th.

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.