iShares Biotechnology ETF $IBB Position Lifted by MinichMacGregor Wealth Management LLC

MinichMacGregor Wealth Management LLC boosted its position in iShares Biotechnology ETF (NASDAQ:IBB) by 3,323.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 78,396 shares of the financial services provider’s stock after purchasing an additional 76,106 shares during the period. iShares Biotechnology ETF accounts for about 2.8% of MinichMacGregor Wealth Management LLC’s portfolio, making the stock its 11th biggest holding. MinichMacGregor Wealth Management LLC’s holdings in iShares Biotechnology ETF were worth $16,505,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Kaydan Wealth Management Inc. grew its stake in shares of iShares Biotechnology ETF by 3.9% in the third quarter. Kaydan Wealth Management Inc. now owns 1,363 shares of the financial services provider’s stock worth $287,000 after purchasing an additional 51 shares during the last quarter. Carter Financial Group INC. boosted its position in iShares Biotechnology ETF by 2.2% during the second quarter. Carter Financial Group INC. now owns 2,423 shares of the financial services provider’s stock valued at $461,000 after acquiring an additional 53 shares during the last quarter. Parallel Advisors LLC grew its holdings in iShares Biotechnology ETF by 8.8% during the 1st quarter. Parallel Advisors LLC now owns 744 shares of the financial services provider’s stock worth $126,000 after acquiring an additional 60 shares during the period. Community Bank N.A. boosted its position in shares of iShares Biotechnology ETF by 5.2% during the 2nd quarter. Community Bank N.A. now owns 1,483 shares of the financial services provider’s stock valued at $282,000 after purchasing an additional 73 shares in the last quarter. Finally, Valmark Advisers Inc. grew its stake in iShares Biotechnology ETF by 3.2% during the first quarter. Valmark Advisers Inc. now owns 2,435 shares of the financial services provider’s stock worth $411,000 after purchasing an additional 75 shares during the period. 62.45% of the stock is currently owned by institutional investors and hedge funds.

iShares Biotechnology ETF Stock Performance

Shares of IBB stock traded up $3.01 during trading hours on Wednesday, hitting $203.03. 501,562 shares of the company were exchanged, compared to its average volume of 1,642,887. iShares Biotechnology ETF has a fifty-two week low of $151.01 and a fifty-two week high of $217.12. The company has a 50 day simple moving average of $206.36 and a two-hundred day simple moving average of $187.17.

iShares Biotechnology ETF Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 18th. Shareholders of record on Tuesday, September 15th were paid a $0.0112 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. This is a drop from iShares Biotechnology ETF’s previous quarterly dividend of $0.0238. The ex-dividend date of this dividend was Tuesday, September 15th.

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.