Butensky & Cohen Financial Security Inc. cut its stake in iShares NASDAQ Biotechnology Index (NASDAQ:IBB) by 11.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 360 shares of the financial services provider’s stock after selling 47 shares during the period. Butensky & Cohen Financial Security Inc.’s holdings in iShares NASDAQ Biotechnology Index were worth $106,000 at the end of the most recent quarter.

Shares of iShares NASDAQ Biotechnology Index (NASDAQ:IBB) traded up 0.52% during midday trading on Thursday, reaching $290.34. 890,880 shares of the company’s stock were exchanged. The company’s 50 day moving average is $293.79 and its 200-day moving average is $280.88. iShares NASDAQ Biotechnology Index has a 12 month low of $240.30 and a 12 month high of $303.74. iShares NASDAQ Biotechnology Index also was the target of some unusual options trading on Wednesday. Investors bought 1,021 put options on the stock. This represents an increase of 405% compared to the average volume of 202 put options.

The business also recently announced a quarterly dividend, which was paid on Thursday, March 30th. Investors of record on Tuesday, March 28th were issued a $0.299 dividend. The ex-dividend date was Friday, March 24th. This is a boost from iShares NASDAQ Biotechnology Index’s previous quarterly dividend of $0.09. This represents a $1.20 annualized dividend and a yield of 0.41%.

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A number of brokerages have commented on IBB. Vetr raised shares of iShares NASDAQ Biotechnology Index from a “hold” rating to a “buy” rating and set a $298.93 price objective on the stock in a report on Wednesday, April 5th. Credit Suisse Group AG raised shares of iShares NASDAQ Biotechnology Index from a “market weight” rating to an “overweight” rating in a report on Tuesday, March 21st. They noted that the move was a valuation call.

About iShares NASDAQ Biotechnology Index

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.

5 Day Chart for NASDAQ:IBB

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