Sandy Spring Bank Decreases Position in iShares Biotechnology ETF (NASDAQ:IBB)

Sandy Spring Bank decreased its holdings in shares of iShares Biotechnology ETF (NASDAQ:IBB) by 2.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,028 shares of the financial services provider’s stock after selling 475 shares during the quarter. Sandy Spring Bank’s holdings in iShares Biotechnology ETF were worth $2,383,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in IBB. National Bank of Canada FI increased its position in iShares Biotechnology ETF by 5.9% during the third quarter. National Bank of Canada FI now owns 4,124 shares of the financial services provider’s stock worth $600,000 after buying an additional 229 shares during the period. IFP Advisors Inc increased its position in iShares Biotechnology ETF by 237.1% during the fourth quarter. IFP Advisors Inc now owns 16,018 shares of the financial services provider’s stock worth $2,118,000 after buying an additional 11,266 shares during the period. Avior Wealth Management LLC increased its position in iShares Biotechnology ETF by 438.2% during the third quarter. Avior Wealth Management LLC now owns 3,229 shares of the financial services provider’s stock worth $470,000 after buying an additional 2,629 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its position in iShares Biotechnology ETF by 32.9% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 663,000 shares of the financial services provider’s stock worth $96,533,000 after buying an additional 164,000 shares during the period. Finally, Main Management ETF Advisors LLC increased its holdings in shares of iShares Biotechnology ETF by 2.5% in the third quarter. Main Management ETF Advisors LLC now owns 593,370 shares of the financial services provider’s stock valued at $86,395,000 after purchasing an additional 14,535 shares during the period. Hedge funds and other institutional investors own 62.45% of the company’s stock.

iShares Biotechnology ETF Trading Down 1.4 %

NASDAQ:IBB opened at $132.74 on Friday. The firm has a market cap of $6.05 billion, a P/E ratio of 27.83 and a beta of 0.77. The stock’s 50 day simple moving average is $136.21 and its 200-day simple moving average is $139.49. iShares Biotechnology ETF has a 12-month low of $123.60 and a 12-month high of $150.57.

iShares Biotechnology ETF Increases Dividend

The business also recently announced a dividend, which will be paid on Friday, March 21st. Stockholders of record on Tuesday, March 18th will be issued a $0.1212 dividend. The ex-dividend date of this dividend is Tuesday, March 18th. This is a positive change from iShares Biotechnology ETF’s previous dividend of $0.06.

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.