Northwestern Mutual Wealth Management Co. Sells 4,212 Shares of iShares Biotechnology ETF $IBB

Northwestern Mutual Wealth Management Co. reduced its position in iShares Biotechnology ETF (NASDAQ:IBB) by 15.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,266 shares of the financial services provider’s stock after selling 4,212 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in iShares Biotechnology ETF were worth $3,758,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of IBB. Brighton Jones LLC acquired a new position in shares of iShares Biotechnology ETF during the fourth quarter valued at about $201,000. AQR Capital Management LLC acquired a new stake in shares of iShares Biotechnology ETF in the 1st quarter worth about $455,000. Millennium Management LLC lifted its position in iShares Biotechnology ETF by 140.8% in the 1st quarter. Millennium Management LLC now owns 41,676 shares of the financial services provider’s stock valued at $5,330,000 after acquiring an additional 143,893 shares in the last quarter. M&T Bank Corp lifted its position in iShares Biotechnology ETF by 39.3% in the 2nd quarter. M&T Bank Corp now owns 2,660 shares of the financial services provider’s stock valued at $337,000 after acquiring an additional 750 shares in the last quarter. Finally, Walleye Capital LLC boosted its stake in iShares Biotechnology ETF by 26.8% during the 2nd quarter. Walleye Capital LLC now owns 4,655 shares of the financial services provider’s stock valued at $589,000 after purchasing an additional 985 shares during the last quarter. Institutional investors and hedge funds own 62.45% of the company’s stock.

iShares Biotechnology ETF Price Performance

Shares of IBB opened at $171.43 on Friday. iShares Biotechnology ETF has a 52 week low of $123.61 and a 52 week high of $179.64. The stock has a 50 day moving average price of $169.89 and a two-hundred day moving average price of $170.57.

iShares Biotechnology ETF Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 20th. Investors of record on Tuesday, March 17th were given a dividend of $0.1218 per share. The ex-dividend date of this dividend was Tuesday, March 17th. This represents a $0.49 annualized dividend and a dividend yield of 0.3%.

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.