Northwestern Mutual Wealth Management Co. Acquires 3,059 Shares of iShares Biotechnology ETF $IBB

Northwestern Mutual Wealth Management Co. increased its holdings in shares of iShares Biotechnology ETF (NASDAQ:IBB) by 12.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,208 shares of the financial services provider’s stock after purchasing an additional 3,059 shares during the quarter. Northwestern Mutual Wealth Management Co. owned approximately 0.05% of iShares Biotechnology ETF worth $5,175,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently 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. Basepoint Wealth LLC bought a new stake in shares of iShares Biotechnology ETF during the fourth quarter valued at approximately $26,000. Pension & Wealth Management Advisors Inc. purchased a new position in shares of iShares Biotechnology ETF in the second quarter worth $28,000. Cary Street Partners Financial LLC bought a new position in shares of iShares Biotechnology ETF during the fourth quarter worth $29,000. Finally, Copia Wealth Management bought a new position in shares of iShares Biotechnology ETF during the fourth quarter worth $34,000. Institutional investors own 62.45% of the company’s stock.

iShares Biotechnology ETF Stock Up 0.0%

IBB opened at $213.81 on Friday. The company has a fifty day moving average of $197.56 and a 200 day moving average of $180.03. iShares Biotechnology ETF has a fifty-two week low of $138.79 and a fifty-two week high of $217.12.

iShares Biotechnology ETF Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Monday, June 15th were given a dividend of $0.0238 per share. The ex-dividend date was Monday, June 15th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.0%.

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.