iShares Biotechnology ETF (NASDAQ:IBB) Reaches New 1-Year High – Time to Buy?

Shares of iShares Biotechnology ETF (NASDAQ:IBB) reached a new 52-week high on Monday . The stock traded as high as $201.91 and last traded at $201.87, with a volume of 360482 shares traded. The stock had previously closed at $198.26.

iShares Biotechnology ETF Price Performance

The business’s 50-day moving average price is $188.26 and its two-hundred day moving average price is $176.64.

iShares Biotechnology ETF Cuts Dividend

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

Institutional Trading of iShares Biotechnology ETF

Several institutional investors and hedge funds have recently modified their holdings of IBB. Citigroup Inc. boosted its position in iShares Biotechnology ETF by 40.9% in the fourth quarter. Citigroup Inc. now owns 5,242,688 shares of the financial services provider’s stock valued at $884,808,000 after buying an additional 1,521,992 shares in the last quarter. Raymond James Financial Inc. increased its holdings in shares of iShares Biotechnology ETF by 286.2% during the fourth quarter. Raymond James Financial Inc. now owns 994,311 shares of the financial services provider’s stock worth $167,810,000 after buying an additional 736,881 shares in the last quarter. Bank of America Corp DE lifted its stake in shares of iShares Biotechnology ETF by 10.8% in the 1st quarter. Bank of America Corp DE now owns 7,259,501 shares of the financial services provider’s stock valued at $1,225,767,000 after acquiring an additional 707,343 shares during the last quarter. Truist Financial Corp raised its position in iShares Biotechnology ETF by 2,239.6% in the fourth quarter. Truist Financial Corp now owns 642,023 shares of the financial services provider’s stock valued at $108,354,000 after purchasing an additional 614,582 shares during the last quarter. Finally, LPL Financial LLC grew its holdings in shares of iShares Biotechnology ETF by 145.9% during the fourth quarter. LPL Financial LLC now owns 992,799 shares of the financial services provider’s stock worth $167,555,000 after purchasing an additional 589,033 shares during 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.