Royal Bank of Canada Acquires 7,434 Shares of iShares Biotechnology ETF $IBB

Royal Bank of Canada boosted its holdings in iShares Biotechnology ETF (NASDAQ:IBB) by 1.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 737,128 shares of the financial services provider’s stock after acquiring an additional 7,434 shares during the period. Royal Bank of Canada’s holdings in iShares Biotechnology ETF were worth $124,464,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Darwin Wealth Management LLC acquired a new position in shares of iShares Biotechnology ETF in the second quarter valued at $25,000. Basepoint Wealth LLC acquired a new stake in shares of iShares Biotechnology ETF during the 4th quarter worth about $26,000. Cary Street Partners Financial LLC acquired a new stake in shares of iShares Biotechnology ETF during the 4th quarter worth about $29,000. Copia Wealth Management bought a new stake in shares of iShares Biotechnology ETF during the 4th quarter worth about $34,000. Finally, Caitlin John LLC bought a new stake in shares of iShares Biotechnology ETF during the 4th quarter worth about $34,000. Institutional investors and hedge funds own 62.45% of the company’s stock.

iShares Biotechnology ETF Trading Up 0.8%

Shares of IBB opened at $189.96 on Friday. iShares Biotechnology ETF has a 52 week low of $130.25 and a 52 week high of $199.05. The firm’s 50-day simple moving average is $181.37 and its 200 day simple moving average is $174.56.

iShares Biotechnology ETF Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Monday, June 15th were issued a dividend of $0.0238 per share. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date was Monday, June 15th.

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.