iShares Biotechnology ETF $IBB Stock Acquired by Point Nemo Capital LLC

Point Nemo Capital LLC grew its position in iShares Biotechnology ETF (NASDAQ:IBB) by 868.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 49,353 shares of the financial services provider’s stock after acquiring an additional 44,256 shares during the quarter. iShares Biotechnology ETF comprises 4.8% of Point Nemo Capital LLC’s holdings, making the stock its largest position. Point Nemo Capital LLC owned 0.09% of iShares Biotechnology ETF worth $10,390,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Bank of America Corp DE increased its position in shares of iShares Biotechnology ETF by 10.8% during the first quarter. Bank of America Corp DE now owns 7,259,501 shares of the financial services provider’s stock worth $1,225,767,000 after purchasing an additional 707,343 shares in the last quarter. Henshaw Capital LLC acquired a new position in iShares Biotechnology ETF in the 1st quarter valued at $20,262,000. MinichMacGregor Wealth Management LLC raised its stake in iShares Biotechnology ETF by 3,323.4% in the 3rd quarter. MinichMacGregor Wealth Management LLC now owns 78,396 shares of the financial services provider’s stock valued at $16,505,000 after purchasing an additional 76,106 shares during the last quarter. Redstone Wealth Management LLC purchased a new position in iShares Biotechnology ETF in the 3rd quarter valued at $12,401,000. Finally, The Manufacturers Life Insurance Company lifted its holdings in iShares Biotechnology ETF by 64.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 101,838 shares of the financial services provider’s stock valued at $19,369,000 after purchasing an additional 39,760 shares in the last quarter. Hedge funds and other institutional investors own 62.45% of the company’s stock.

iShares Biotechnology ETF Stock Performance

Shares of IBB stock opened at $213.63 on Friday. iShares Biotechnology ETF has a fifty-two week low of $154.98 and a fifty-two week high of $222.29. The stock’s fifty day moving average is $208.46 and its two-hundred day moving average is $185.91.

iShares Biotechnology ETF Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 18th. Stockholders of record on Tuesday, September 15th were given a $0.0112 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. This is a negative change from iShares Biotechnology ETF’s previous quarterly dividend of $0.0238. The ex-dividend date was Tuesday, September 15th.

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.