Baxter Bros Inc. Grows Stake in iShares Biotechnology ETF (NASDAQ:IBB)

Baxter Bros Inc. raised its holdings in iShares Biotechnology ETF (NASDAQ:IBB) by 23.1% during the first quarter, Holdings Channel.com reports. The institutional investor owned 1,989 shares of the financial services provider’s stock after buying an additional 373 shares during the quarter. Baxter Bros Inc.’s holdings in iShares Biotechnology ETF were worth $254,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Brighton Jones LLC purchased a new stake in iShares Biotechnology ETF in the fourth quarter worth $201,000. Caprock Group LLC purchased a new stake in shares of iShares Biotechnology ETF in the 4th quarter worth about $442,000. Chicago Partners Investment Group LLC boosted its stake in shares of iShares Biotechnology ETF by 2.5% during the 4th quarter. Chicago Partners Investment Group LLC now owns 3,783 shares of the financial services provider’s stock valued at $510,000 after purchasing an additional 94 shares in the last quarter. SYM FINANCIAL Corp increased its position in shares of iShares Biotechnology ETF by 238.6% during the fourth quarter. SYM FINANCIAL Corp now owns 430 shares of the financial services provider’s stock valued at $57,000 after buying an additional 303 shares during the period. Finally, Spire Wealth Management raised its stake in iShares Biotechnology ETF by 65.9% in the fourth quarter. Spire Wealth Management now owns 4,274 shares of the financial services provider’s stock worth $565,000 after buying an additional 1,698 shares in the last quarter. 62.45% of the stock is owned by hedge funds and other institutional investors.

iShares Biotechnology ETF Price Performance

Shares of IBB opened at $124.83 on Wednesday. The company has a 50-day simple moving average of $121.15 and a two-hundred day simple moving average of $130.95. The firm has a market capitalization of $5.46 billion, a PE ratio of 23.96 and a beta of 0.84. iShares Biotechnology ETF has a one year low of $107.43 and a one year high of $150.57.

iShares Biotechnology ETF Increases Dividend

The company also recently announced a dividend, which was paid on Friday, March 21st. Stockholders of record on Tuesday, March 18th were paid a $0.1212 dividend. The ex-dividend date of this dividend was Tuesday, March 18th. This is a boost from iShares Biotechnology ETF’s previous dividend of $0.06.

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.