Main Management ETF Advisors LLC Has $80.94 Million Position in iShares Biotechnology ETF (NASDAQ:IBB)

Main Management ETF Advisors LLC boosted its holdings in iShares Biotechnology ETF (NASDAQ:IBB) by 3.2% during the 4th quarter, Holdings Channel reports. The fund owned 612,180 shares of the financial services provider’s stock after acquiring an additional 18,810 shares during the quarter. iShares Biotechnology ETF comprises 3.7% of Main Management ETF Advisors LLC’s portfolio, making the stock its 10th largest holding. Main Management ETF Advisors LLC’s holdings in iShares Biotechnology ETF were worth $80,936,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in IBB. Bank of America Corp DE grew its stake in shares of iShares Biotechnology ETF by 6.5% in the fourth quarter. Bank of America Corp DE now owns 7,489,427 shares of the financial services provider’s stock worth $990,177,000 after purchasing an additional 460,154 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in iShares Biotechnology ETF in the fourth quarter worth about $55,010,000. Gray Foundation grew its position in iShares Biotechnology ETF by 25.2% in the 4th quarter. Gray Foundation now owns 164,872 shares of the financial services provider’s stock valued at $21,798,000 after buying an additional 33,179 shares in the last quarter. Avalon Trust Co grew its position in iShares Biotechnology ETF by 0.7% in the 4th quarter. Avalon Trust Co now owns 127,893 shares of the financial services provider’s stock valued at $16,909,000 after buying an additional 935 shares in the last quarter. Finally, Focus Partners Wealth increased its stake in iShares Biotechnology ETF by 168.2% during the 4th quarter. Focus Partners Wealth now owns 121,996 shares of the financial services provider’s stock valued at $16,485,000 after buying an additional 76,509 shares during the period. Institutional investors own 62.45% of the company’s stock.

iShares Biotechnology ETF Trading Down 2.1%

IBB stock opened at $119.53 on Wednesday. The firm’s 50-day moving average is $124.77 and its two-hundred day moving average is $133.19. The company has a market capitalization of $5.23 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 company also recently announced a dividend, which was paid on Friday, March 21st. Investors of record on Tuesday, March 18th were issued a dividend of $0.1212 per share. This is a boost from iShares Biotechnology ETF’s previous dividend of $0.06. The ex-dividend date of this dividend was Tuesday, March 18th.

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.