Marvin & Palmer Associates Inc. Purchases New Position in iShares Biotechnology ETF $IBB

Marvin & Palmer Associates Inc. purchased a new stake in shares of iShares Biotechnology ETF (NASDAQ:IBB) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 42,219 shares of the financial services provider’s stock, valued at approximately $7,125,000. iShares Biotechnology ETF comprises approximately 5.0% of Marvin & Palmer Associates Inc.’s holdings, making the stock its 7th largest position.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Dynamic Wealth Strategies LLC boosted its stake in iShares Biotechnology ETF by 16.6% during the fourth quarter. Dynamic Wealth Strategies LLC now owns 422 shares of the financial services provider’s stock valued at $71,000 after buying an additional 60 shares during the last quarter. Flagship Private Wealth LLC boosted its stake in iShares Biotechnology ETF by 2.0% during the fourth quarter. Flagship Private Wealth LLC now owns 3,084 shares of the financial services provider’s stock valued at $521,000 after buying an additional 60 shares during the last quarter. Larson Financial Group LLC boosted its stake in iShares Biotechnology ETF by 2.3% during the fourth quarter. Larson Financial Group LLC now owns 2,717 shares of the financial services provider’s stock valued at $458,000 after buying an additional 60 shares during the last quarter. Webster Bank N. A. boosted its stake in iShares Biotechnology ETF by 1.0% during the fourth quarter. Webster Bank N. A. now owns 6,476 shares of the financial services provider’s stock valued at $1,093,000 after buying an additional 62 shares during the last quarter. Finally, Choreo LLC boosted its stake in iShares Biotechnology ETF by 2.2% during the fourth quarter. Choreo LLC now owns 3,043 shares of the financial services provider’s stock valued at $514,000 after buying an additional 65 shares during the last quarter. 62.45% of the stock is owned by institutional investors.

iShares Biotechnology ETF Price Performance

Shares of iShares Biotechnology ETF stock opened at $169.36 on Wednesday. The stock has a 50 day moving average of $170.16 and a 200 day moving average of $170.62. iShares Biotechnology ETF has a 12 month low of $123.61 and a 12 month high of $179.64.

iShares Biotechnology ETF Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 20th. Shareholders of record on Tuesday, March 17th were given a dividend of $0.1218 per share. The ex-dividend date was Tuesday, March 17th. This represents a $0.49 dividend on an annualized basis and a yield of 0.3%.

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.