Sumitomo Mitsui Financial Group Inc. Cuts Position in iShares Biotechnology ETF (NASDAQ:IBB)

Sumitomo Mitsui Financial Group Inc. cut its holdings in iShares Biotechnology ETF (NASDAQ:IBB) by 4.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,698 shares of the financial services provider’s stock after selling 334 shares during the period. Sumitomo Mitsui Financial Group Inc.’s holdings in iShares Biotechnology ETF were worth $886,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of IBB. HHM Wealth Advisors LLC increased its holdings in iShares Biotechnology ETF by 200.0% during the fourth quarter. HHM Wealth Advisors LLC now owns 225 shares of the financial services provider’s stock worth $30,000 after buying an additional 150 shares during the last quarter. VSM Wealth Advisory LLC bought a new position in shares of iShares Biotechnology ETF during the 4th quarter valued at approximately $30,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of iShares Biotechnology ETF during the 4th quarter worth approximately $32,000. Newbridge Financial Services Group Inc. bought a new stake in shares of iShares Biotechnology ETF in the 4th quarter worth approximately $33,000. Finally, Hager Investment Management Services LLC purchased a new position in iShares Biotechnology ETF in the fourth quarter valued at approximately $34,000. 62.45% of the stock is owned by hedge funds and other institutional investors.

iShares Biotechnology ETF Trading Down 5.4 %

Shares of NASDAQ IBB opened at $117.16 on Monday. The firm has a market cap of $5.28 billion, a price-to-earnings ratio of 24.21 and a beta of 0.84. The stock has a fifty day simple moving average of $134.95 and a two-hundred day simple moving average of $138.05. iShares Biotechnology ETF has a 1-year low of $114.32 and a 1-year high of $150.57.

iShares Biotechnology ETF Increases Dividend

The company also recently disclosed a dividend, which was paid on Friday, March 21st. Investors of record on Tuesday, March 18th were issued a $0.1212 dividend. The ex-dividend date of this dividend was 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.