Pinnacle Wealth Management Advisory Group LLC Boosts Stake in iShares Biotechnology ETF (NASDAQ:IBB)

Pinnacle Wealth Management Advisory Group LLC increased its position in iShares Biotechnology ETF (NASDAQ:IBB) by 8.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,931 shares of the financial services provider’s stock after purchasing an additional 148 shares during the period. Pinnacle Wealth Management Advisory Group LLC’s holdings in iShares Biotechnology ETF were worth $262,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. International Assets Investment Management LLC bought a new position in shares of iShares Biotechnology ETF during the fourth quarter valued at approximately $76,425,000. Itau Unibanco Holding S.A. purchased a new stake in shares of iShares Biotechnology ETF in the 3rd quarter worth approximately $48,242,000. Bank Julius Baer & Co. Ltd Zurich increased its position in iShares Biotechnology ETF by 3.7% during the 3rd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 293,097 shares of the financial services provider’s stock valued at $35,843,000 after buying an additional 10,542 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its holdings in iShares Biotechnology ETF by 8.9% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 153,692 shares of the financial services provider’s stock worth $20,879,000 after acquiring an additional 12,611 shares in the last quarter. Finally, Albion Financial Group UT grew its stake in shares of iShares Biotechnology ETF by 1.2% in the fourth quarter. Albion Financial Group UT now owns 129,377 shares of the financial services provider’s stock worth $17,576,000 after acquiring an additional 1,575 shares during the last quarter. Institutional investors own 62.45% of the company’s stock.

iShares Biotechnology ETF Price Performance

Shares of NASDAQ:IBB traded up $0.85 on Thursday, hitting $133.44. 606,222 shares of the company traded hands, compared to its average volume of 1,778,879. The stock has a 50 day simple moving average of $133.20 and a 200-day simple moving average of $130.36. iShares Biotechnology ETF has a 52 week low of $111.83 and a 52 week high of $141.16.

iShares Biotechnology ETF Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Friday, March 22nd were paid a $0.126 dividend. The ex-dividend date was Thursday, March 21st. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.38%.

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.