SevenBridge Financial Group LLC Reduces Stake in iShares Biotechnology ETF (NASDAQ:IBB)

SevenBridge Financial Group LLC lessened its holdings in shares of iShares Biotechnology ETF (NASDAQ:IBB) by 12.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,734 shares of the financial services provider’s stock after selling 400 shares during the period. SevenBridge Financial Group LLC’s holdings in iShares Biotechnology ETF were worth $367,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Raymond James Financial Inc. acquired a new stake in shares of iShares Biotechnology ETF during the fourth quarter worth about $55,010,000. Aprio Wealth Management LLC purchased a new position in iShares Biotechnology ETF during the 4th quarter worth approximately $18,476,000. Generali Investments CEE investicni spolecnost a.s. acquired a new position in iShares Biotechnology ETF during the fourth quarter worth approximately $11,370,000. Independent Advisor Alliance purchased a new stake in iShares Biotechnology ETF in the fourth quarter valued at approximately $6,769,000. Finally, Wellington Shields Capital Management LLC boosted its holdings in shares of iShares Biotechnology ETF by 1,753.4% in the fourth quarter. Wellington Shields Capital Management LLC now owns 39,663 shares of the financial services provider’s stock valued at $5,244,000 after acquiring an additional 37,523 shares during the period. Hedge funds and other institutional investors own 62.45% of the company’s stock.

iShares Biotechnology ETF Trading Up 1.9 %

Shares of IBB opened at $126.79 on Thursday. The company’s 50 day simple moving average is $135.64 and its 200-day simple moving average is $138.50. iShares Biotechnology ETF has a 12-month low of $123.21 and a 12-month high of $150.57. The firm has a market cap of $5.99 billion, a PE ratio of 27.83 and a beta of 0.84.

iShares Biotechnology ETF Increases Dividend

The firm also recently disclosed a dividend, which was paid on Friday, March 21st. Shareholders of record on Tuesday, March 18th were paid a $0.1212 dividend. The ex-dividend date was Tuesday, March 18th. This is a positive change from iShares Biotechnology ETF’s previous dividend of $0.06.

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.