Miller Investment Management LP Sells 5,282 Shares of iShares Biotechnology ETF $IBB

Miller Investment Management LP lowered its position in shares of iShares Biotechnology ETF (NASDAQ:IBB) by 6.4% in the 3rd quarter, Holdings Channel.com reports. The fund owned 76,667 shares of the financial services provider’s stock after selling 5,282 shares during the period. iShares Biotechnology ETF makes up 1.1% of Miller Investment Management LP’s holdings, making the stock its 22nd largest holding. Miller Investment Management LP’s holdings in iShares Biotechnology ETF were worth $11,068,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of IBB. Citigroup Inc. boosted its holdings in iShares Biotechnology ETF by 27.0% in the 2nd quarter. Citigroup Inc. now owns 4,073,967 shares of the financial services provider’s stock valued at $515,398,000 after purchasing an additional 865,823 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of iShares Biotechnology ETF by 74.2% in the second quarter. JPMorgan Chase & Co. now owns 833,196 shares of the financial services provider’s stock worth $105,408,000 after purchasing an additional 355,000 shares during the period. Employees Retirement System of Texas purchased a new stake in shares of iShares Biotechnology ETF in the second quarter worth $25,049,000. Millennium Management LLC boosted its stake in iShares Biotechnology ETF by 140.8% during the first quarter. Millennium Management LLC now owns 41,676 shares of the financial services provider’s stock valued at $5,330,000 after buying an additional 143,893 shares during the period. Finally, Florin Court Capital LLP purchased a new position in iShares Biotechnology ETF during the third quarter worth about $11,116,000. Institutional investors own 62.45% of the company’s stock.

iShares Biotechnology ETF Stock Performance

Shares of NASDAQ IBB opened at $175.10 on Tuesday. The stock’s 50-day simple moving average is $172.29 and its two-hundred day simple moving average is $159.32. iShares Biotechnology ETF has a twelve month low of $107.43 and a twelve month high of $179.64.

iShares Biotechnology ETF Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Tuesday, December 16th were given a $0.1831 dividend. This represents a $0.73 annualized dividend and a dividend yield of 0.4%. This is a positive change from iShares Biotechnology ETF’s previous quarterly dividend of $0.08. The ex-dividend date was Tuesday, December 16th.

iShares Biotechnology ETF Company 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.