Magnus Financial Group LLC Sells 2,450 Shares of iShares Biotechnology ETF (NASDAQ:IBB)

Magnus Financial Group LLC reduced its position in iShares Biotechnology ETF (NASDAQ:IBB) by 18.9% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 10,517 shares of the financial services provider’s stock after selling 2,450 shares during the period. Magnus Financial Group LLC’s holdings in iShares Biotechnology ETF were worth $1,345,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bremer Bank National Association bought a new stake in iShares Biotechnology ETF in the 1st quarter valued at about $256,000. Bourgeon Capital Management LLC raised its stake in iShares Biotechnology ETF by 4.9% in the 1st quarter. Bourgeon Capital Management LLC now owns 4,424 shares of the financial services provider’s stock valued at $566,000 after acquiring an additional 206 shares during the period. Baxter Bros Inc. raised its stake in iShares Biotechnology ETF by 23.1% in the 1st quarter. Baxter Bros Inc. now owns 1,989 shares of the financial services provider’s stock valued at $254,000 after acquiring an additional 373 shares during the period. Arlington Financial Advisors LLC increased its position in shares of iShares Biotechnology ETF by 8.6% during the first quarter. Arlington Financial Advisors LLC now owns 16,861 shares of the financial services provider’s stock valued at $2,157,000 after buying an additional 1,337 shares during the period. Finally, NBC Securities Inc. increased its position in shares of iShares Biotechnology ETF by 94,500.0% during the first quarter. NBC Securities Inc. now owns 3,784 shares of the financial services provider’s stock valued at $483,000 after buying an additional 3,780 shares during the period. 62.45% of the stock is currently owned by institutional investors.

iShares Biotechnology ETF Stock Up 1.5%

Shares of IBB opened at $126.96 on Friday. The business’s 50-day moving average price is $121.04 and its 200-day moving average price is $130.81. iShares Biotechnology ETF has a twelve month low of $107.43 and a twelve month high of $150.57. The stock has a market cap of $5.55 billion, a PE ratio of 23.96 and a beta of 0.84.

iShares Biotechnology ETF Increases Dividend

The business also recently declared a dividend, which was paid on Friday, March 21st. Stockholders of record on Tuesday, March 18th were given a dividend of $0.1212 per share. The ex-dividend date of this dividend was Tuesday, March 18th. This is a boost from iShares Biotechnology ETF’s previous dividend of $0.06.

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.