Valley National Advisers Inc. Trims Stock Holdings in iShares Biotechnology ETF $IBB

Valley National Advisers Inc. lessened its holdings in shares of iShares Biotechnology ETF (NASDAQ:IBB) by 4.1% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,251 shares of the financial services provider’s stock after selling 138 shares during the quarter. Valley National Advisers Inc.’s holdings in iShares Biotechnology ETF were worth $411,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in IBB. DAVENPORT & Co LLC grew its position in shares of iShares Biotechnology ETF by 5.9% during the second quarter. DAVENPORT & Co LLC now owns 15,618 shares of the financial services provider’s stock worth $1,976,000 after buying an additional 869 shares in the last quarter. Grimes & Company Inc. bought a new position in iShares Biotechnology ETF during the 2nd quarter valued at $2,298,000. OLD National Bancorp IN acquired a new position in iShares Biotechnology ETF during the 2nd quarter worth $245,000. QRG Capital Management Inc. increased its position in shares of iShares Biotechnology ETF by 5.3% in the 2nd quarter. QRG Capital Management Inc. now owns 2,437 shares of the financial services provider’s stock worth $308,000 after purchasing an additional 123 shares during the last quarter. Finally, Washington Growth Strategies LLC raised its stake in shares of iShares Biotechnology ETF by 4,996.9% in the 2nd quarter. Washington Growth Strategies LLC now owns 6,524 shares of the financial services provider’s stock valued at $825,000 after purchasing an additional 6,396 shares in the last quarter. 62.45% of the stock is owned by institutional investors and hedge funds.

iShares Biotechnology ETF Stock Down 0.3%

Shares of IBB stock opened at $150.52 on Tuesday. iShares Biotechnology ETF has a one year low of $107.43 and a one year high of $151.79. The company’s 50-day simple moving average is $139.51 and its 200-day simple moving average is $130.07.

iShares Biotechnology ETF Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 19th. Shareholders of record on Tuesday, September 16th were issued a dividend of $0.0828 per share. This represents a $0.33 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend was Tuesday, September 16th.

iShares Biotechnology ETF 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.