Snowden Capital Advisors LLC Boosts Stock Position in iShares Biotechnology ETF (NASDAQ:IBB)

Snowden Capital Advisors LLC boosted its position in iShares Biotechnology ETF (NASDAQ:IBB) by 1.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,337 shares of the financial services provider’s stock after purchasing an additional 121 shares during the quarter. Snowden Capital Advisors LLC’s holdings in iShares Biotechnology ETF were worth $838,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bank of America Corp DE increased its stake in 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 valued at $990,177,000 after purchasing an additional 460,154 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of iShares Biotechnology ETF during the 4th quarter valued at about $55,010,000. Generali Investments CEE investicni spolecnost a.s. purchased a new position in shares of iShares Biotechnology ETF during the 4th quarter worth about $11,370,000. Focus Partners Wealth lifted its holdings in shares of 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 worth $16,485,000 after acquiring an additional 76,509 shares during the period. Finally, Independent Advisor Alliance acquired a new stake in shares of iShares Biotechnology ETF in the fourth quarter worth approximately $6,769,000. 62.45% of the stock is currently owned by hedge funds and other institutional investors.

iShares Biotechnology ETF Stock Performance

Shares of IBB stock opened at $122.51 on Tuesday. iShares Biotechnology ETF has a one year low of $107.43 and a one year high of $150.57. The company has a 50 day moving average price of $123.55 and a 200 day moving average price of $132.50. The firm has a market capitalization of $5.28 billion, a price-to-earnings ratio of 23.96 and a beta of 0.77.

iShares Biotechnology ETF Increases Dividend

The business also recently disclosed a dividend, which was paid on Friday, March 21st. Stockholders of record on Tuesday, March 18th were paid a dividend of $0.1212 per share. The ex-dividend date of this dividend was Tuesday, March 18th. This is a boost 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.