MAI Capital Management Increases Holdings in iShares Biotechnology ETF $IBB

MAI Capital Management boosted its stake in iShares Biotechnology ETF (NASDAQ:IBB) by 8.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 76,381 shares of the financial services provider’s stock after purchasing an additional 6,035 shares during the period. MAI Capital Management owned approximately 0.18% of iShares Biotechnology ETF worth $11,027,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Darwin Wealth Management LLC acquired a new stake in shares of iShares Biotechnology ETF in the second quarter valued at about $25,000. Financial Gravity Companies Inc. purchased a new stake in shares of iShares Biotechnology ETF during the second quarter valued at approximately $29,000. Ashton Thomas Securities LLC acquired a new position in shares of iShares Biotechnology ETF during the third quarter worth $36,000. Bronte Capital Management Pty Ltd. boosted its stake in shares of iShares Biotechnology ETF by 12.6% in the second quarter. Bronte Capital Management Pty Ltd. now owns 295,346 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 32,947 shares during the period. Finally, Parkside Financial Bank & Trust grew its holdings in iShares Biotechnology ETF by 48.6% during the 3rd quarter. Parkside Financial Bank & Trust now owns 266 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 87 shares in the last quarter. Institutional investors and hedge funds own 62.45% of the company’s stock.

iShares Biotechnology ETF Trading Down 0.6%

Shares of IBB stock opened at $175.30 on Thursday. The company’s fifty day moving average price is $172.61 and its two-hundred day moving average price is $159.74. iShares Biotechnology ETF has a 12 month low of $107.43 and a 12 month high of $179.64.

iShares Biotechnology ETF Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Tuesday, December 16th were paid a dividend of $0.1831 per share. This is a boost from iShares Biotechnology ETF’s previous quarterly dividend of $0.08. The ex-dividend date was Tuesday, December 16th. This represents a $0.73 dividend on an annualized basis and a yield of 0.4%.

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.