Crescent Grove Advisors LLC Cuts Holdings in iShares Biotechnology ETF (NASDAQ:IBB)

Crescent Grove Advisors LLC reduced its position in iShares Biotechnology ETF (NASDAQ:IBB) by 19.8% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 34,346 shares of the financial services provider’s stock after selling 8,454 shares during the period. Crescent Grove Advisors LLC’s holdings in iShares Biotechnology ETF were worth $4,541,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. KFG Wealth Management LLC increased its position in iShares Biotechnology ETF by 8.5% in the fourth quarter. KFG Wealth Management LLC now owns 2,143 shares of the financial services provider’s stock worth $283,000 after purchasing an additional 168 shares during the last quarter. Blue Square Asset Management LLC boosted its position in shares of iShares Biotechnology ETF by 1.2% during the fourth quarter. Blue Square Asset Management LLC now owns 20,150 shares of the financial services provider’s stock valued at $2,664,000 after buying an additional 248 shares during the period. Grimes & Company Inc. bought a new stake in shares of iShares Biotechnology ETF during the 4th quarter worth approximately $3,462,000. Geneos Wealth Management Inc. increased its stake in iShares Biotechnology ETF by 52.4% in the fourth quarter. Geneos Wealth Management Inc. now owns 873 shares of the financial services provider’s stock worth $115,000 after purchasing an additional 300 shares during the period. Finally, Dynamic Advisor Solutions LLC lifted its position in shares of iShares Biotechnology ETF by 41.0% during the fourth quarter. Dynamic Advisor Solutions LLC now owns 5,507 shares of the financial services provider’s stock worth $728,000 after purchasing an additional 1,600 shares during the last quarter. 62.45% of the stock is owned by institutional investors.

iShares Biotechnology ETF Stock Performance

NASDAQ IBB opened at $137.30 on Friday. iShares Biotechnology ETF has a 12 month low of $123.60 and a 12 month high of $150.57. The company’s 50-day moving average price is $136.04 and its 200-day moving average price is $141.80.

iShares Biotechnology ETF Cuts Dividend

The business also recently announced a dividend, which was paid on Friday, December 20th. Stockholders of record on Tuesday, December 17th were given a dividend of $0.0624 per share. The ex-dividend date was Tuesday, December 17th.

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.