iShares Biotechnology ETF Target of Unusually High Options Trading (NASDAQ:IBB)

iShares Biotechnology ETF (NASDAQ:IBB) was the target of unusually large options trading on Friday. Investors purchased 72,977 put options on the stock. This represents an increase of approximately 1,643% compared to the typical daily volume of 4,188 put options.

Hedge Funds Weigh In On iShares Biotechnology ETF

Institutional investors and hedge funds have recently made changes to their positions in the business. Darwin Wealth Management LLC purchased a new stake in shares of iShares Biotechnology ETF during the third quarter valued at about $29,000. Highline Wealth Partners LLC acquired a new position in iShares Biotechnology ETF in the 3rd quarter valued at about $30,000. HHM Wealth Advisors LLC increased its holdings in iShares Biotechnology ETF by 200.0% during the 4th quarter. HHM Wealth Advisors LLC now owns 225 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 150 shares during the period. Bradley & Co. Private Wealth Management LLC acquired a new position in shares of iShares Biotechnology ETF during the 4th quarter worth about $32,000. Finally, Newbridge Financial Services Group Inc. acquired a new position in iShares Biotechnology ETF in the fourth quarter valued at $33,000. Hedge funds and other institutional investors own 62.45% of the company’s stock.

iShares Biotechnology ETF Stock Performance

NASDAQ IBB traded down $2.57 on Friday, hitting $137.99. The stock had a trading volume of 1,196,913 shares, compared to its average volume of 1,477,423. The firm has a 50-day moving average of $136.29 and a 200-day moving average of $141.47. iShares Biotechnology ETF has a 52-week low of $123.60 and a 52-week high of $150.57.

iShares Biotechnology ETF Cuts Dividend

The business also recently declared a dividend, which was paid on Friday, December 20th. Stockholders of record on Tuesday, December 17th were issued 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.