Q3 Asset Management Makes New $4 Million Investment in iShares Biotechnology ETF $IBB

Q3 Asset Management bought a new position in shares of iShares Biotechnology ETF (NASDAQ:IBB) in the 4th quarter, HoldingsChannel reports. The fund bought 23,686 shares of the financial services provider’s stock, valued at approximately $3,999,000. iShares Biotechnology ETF makes up 0.9% of Q3 Asset Management’s portfolio, making the stock its 15th biggest holding.

Other hedge funds also recently bought and sold shares of the company. Darwin Wealth Management LLC purchased a new position in iShares Biotechnology ETF during the second quarter worth about $25,000. Ashton Thomas Securities LLC purchased a new position in iShares Biotechnology ETF during the third quarter worth about $36,000. Parkside Financial Bank & Trust boosted its stake in iShares Biotechnology ETF by 48.6% during the third quarter. Parkside Financial Bank & Trust now owns 266 shares of the financial services provider’s stock worth $38,000 after buying an additional 87 shares during the period. Close Asset Management Ltd boosted its stake in iShares Biotechnology ETF by 25.5% during the third quarter. Close Asset Management Ltd now owns 345 shares of the financial services provider’s stock worth $50,000 after buying an additional 70 shares during the period. Finally, Founders Financial Alliance LLC boosted its stake in iShares Biotechnology ETF by 605.7% during the third quarter. Founders Financial Alliance LLC now owns 374 shares of the financial services provider’s stock worth $54,000 after buying an additional 321 shares during the period. Hedge funds and other institutional investors own 62.45% of the company’s stock.

iShares Biotechnology ETF Price Performance

Shares of IBB stock opened at $176.66 on Monday. The company has a 50-day moving average of $170.28 and a two-hundred day moving average of $167.39. iShares Biotechnology ETF has a 1-year low of $116.25 and a 1-year high of $179.64.

iShares Biotechnology ETF Cuts Dividend

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

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.