Beacon Pointe Advisors LLC Lowers Holdings in iShares Biotechnology ETF (NASDAQ:IBB)

Beacon Pointe Advisors LLC reduced its stake in iShares Biotechnology ETF (NASDAQ:IBB) by 13.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 45,719 shares of the financial services provider’s stock after selling 7,006 shares during the period. Beacon Pointe Advisors LLC owned approximately 0.10% of iShares Biotechnology ETF worth $6,045,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Berger Financial Group Inc purchased a new stake in shares of iShares Biotechnology ETF during the 4th quarter valued at about $343,000. Banco Bilbao Vizcaya Argentaria S.A. raised its stake in iShares Biotechnology ETF by 17.5% during the 4th quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 12,200 shares of the financial services provider’s stock valued at $1,615,000 after buying an additional 1,819 shares during the last quarter. Syon Capital LLC bought a new position in shares of iShares Biotechnology ETF during the 4th quarter valued at $1,024,000. Transatlantique Private Wealth LLC boosted its stake in shares of iShares Biotechnology ETF by 42.7% in the 4th quarter. Transatlantique Private Wealth LLC now owns 2,552 shares of the financial services provider’s stock worth $337,000 after buying an additional 764 shares during the last quarter. Finally, Carbahal Olsen Financial Services Group LLC purchased a new stake in iShares Biotechnology ETF during the fourth quarter valued at $439,000. Hedge funds and other institutional investors own 62.45% of the company’s stock.

iShares Biotechnology ETF Stock Performance

Shares of NASDAQ:IBB opened at $124.75 on Wednesday. The stock’s 50-day simple moving average is $127.72 and its two-hundred day simple moving average is $134.74. The stock has a market capitalization of $5.51 billion, a price-to-earnings ratio of 25.09 and a beta of 0.84. iShares Biotechnology ETF has a 52-week low of $107.43 and a 52-week high of $150.57.

iShares Biotechnology ETF Increases Dividend

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

iShares Biotechnology ETF 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.