Clare Market Investments LLC Takes Position in iShares Biotechnology ETF $IBB

Clare Market Investments LLC purchased a new stake in iShares Biotechnology ETF (NASDAQ:IBB) during the 1st quarter, HoldingsChannel reports. The institutional investor purchased 2,905 shares of the financial services provider’s stock, valued at approximately $490,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Brighton Jones LLC purchased a new position in iShares Biotechnology ETF during the 4th quarter valued at about $201,000. AQR Capital Management LLC purchased a new stake in iShares Biotechnology ETF during the first quarter worth about $455,000. Millennium Management LLC lifted its position in shares of iShares Biotechnology ETF by 140.8% during the first quarter. Millennium Management LLC now owns 41,676 shares of the financial services provider’s stock worth $5,330,000 after purchasing an additional 143,893 shares in the last quarter. M&T Bank Corp lifted its position in shares of iShares Biotechnology ETF by 39.3% during the second quarter. M&T Bank Corp now owns 2,660 shares of the financial services provider’s stock worth $337,000 after purchasing an additional 750 shares in the last quarter. Finally, Walleye Capital LLC lifted its position in shares of iShares Biotechnology ETF by 26.8% during the second quarter. Walleye Capital LLC now owns 4,655 shares of the financial services provider’s stock worth $589,000 after purchasing an additional 985 shares in the last quarter. 62.45% of the stock is owned by institutional investors and hedge funds.

iShares Biotechnology ETF Stock Performance

Shares of IBB stock opened at $197.37 on Tuesday. iShares Biotechnology ETF has a fifty-two week low of $128.06 and a fifty-two week high of $197.37. The company has a 50 day moving average price of $173.66 and a 200 day moving average price of $172.05.

iShares Biotechnology ETF Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Monday, June 15th were given a dividend of $0.0238 per share. This represents a $0.10 annualized dividend and a dividend yield of 0.0%. The ex-dividend date of this dividend was Monday, June 15th.

About iShares Biotechnology ETF

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.