Arcadia Wealth Management Inc. Purchases New Shares in iShares Biotechnology ETF (NASDAQ:IBB)

Arcadia Wealth Management Inc. purchased a new stake in shares of iShares Biotechnology ETF (NASDAQ:IBB) during the 4th quarter, HoldingsChannel reports. The firm purchased 15,866 shares of the financial services provider’s stock, valued at approximately $2,098,000. iShares Biotechnology ETF makes up 1.8% of Arcadia Wealth Management Inc.’s portfolio, making the stock its 11th largest holding.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. HHM Wealth Advisors LLC boosted its position in iShares Biotechnology ETF by 200.0% during the fourth quarter. HHM Wealth Advisors LLC now owns 225 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 150 shares during the last quarter. VSM Wealth Advisory LLC acquired a new position in iShares Biotechnology ETF during the fourth quarter worth about $30,000. Bradley & Co. Private Wealth Management LLC acquired a new position in iShares Biotechnology ETF during the fourth quarter worth about $32,000. Newbridge Financial Services Group Inc. acquired a new position in iShares Biotechnology ETF during the fourth quarter worth about $33,000. Finally, Hager Investment Management Services LLC acquired a new position in iShares Biotechnology ETF during the fourth quarter worth about $34,000. Institutional investors and hedge funds own 62.45% of the company’s stock.

iShares Biotechnology ETF Trading Down 0.1%

IBB opened at $121.25 on Tuesday. The firm has a market capitalization of $5.30 billion, a PE ratio of 23.96 and a beta of 0.84. iShares Biotechnology ETF has a twelve month low of $107.43 and a twelve month high of $150.57. The firm’s 50-day moving average price is $122.31 and its 200 day moving average price is $131.66.

iShares Biotechnology ETF Increases Dividend

The firm also recently declared a dividend, which was paid on Friday, March 21st. Investors of record on Tuesday, March 18th were given a dividend of $0.1212 per share. The ex-dividend date was Tuesday, March 18th. This is a positive change from iShares Biotechnology ETF’s previous dividend of $0.06.

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.