PNC Financial Services Group Inc. Grows Holdings in iShares Biotechnology ETF $IBB

PNC Financial Services Group Inc. increased its position in iShares Biotechnology ETF (NASDAQ:IBB) by 6.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 324,982 shares of the financial services provider’s stock after acquiring an additional 18,514 shares during the quarter. PNC Financial Services Group Inc. owned about 0.66% of iShares Biotechnology ETF worth $54,847,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in IBB. Darwin Wealth Management LLC bought a new position in iShares Biotechnology ETF in the 2nd quarter worth approximately $25,000. Cornerstone Planning Group LLC bought a new position in iShares Biotechnology ETF in the 4th quarter worth approximately $35,000. Strategic Wealth Advisors LLC bought a new position in iShares Biotechnology ETF in the 4th quarter worth approximately $35,000. Parkside Financial Bank & Trust boosted its stake in iShares Biotechnology ETF by 48.6% in the 3rd quarter. Parkside Financial Bank & Trust now owns 266 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 87 shares during the period. Finally, Close Asset Management Ltd boosted its stake in iShares Biotechnology ETF by 25.5% in the 3rd quarter. Close Asset Management Ltd now owns 345 shares of the financial services provider’s stock worth $50,000 after purchasing an additional 70 shares during the period. 62.45% of the stock is currently owned by institutional investors.

iShares Biotechnology ETF Stock Performance

IBB stock opened at $169.06 on Friday. iShares Biotechnology ETF has a 1-year low of $119.78 and a 1-year high of $179.64. The business has a 50 day simple moving average of $168.95 and a two-hundred day simple moving average of $169.90.

iShares Biotechnology ETF Cuts Dividend

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

About iShares Biotechnology ETF

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.