Hoey Investments Inc. Increases Stock Position in iShares Biotechnology ETF $IBB

Hoey Investments Inc. boosted its stake in iShares Biotechnology ETF (NASDAQ:IBB) by 1,818.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,508 shares of the financial services provider’s stock after purchasing an additional 4,273 shares during the quarter. Hoey Investments Inc.’s holdings in iShares Biotechnology ETF were worth $761,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of IBB. BNP Paribas Financial Markets raised its stake in iShares Biotechnology ETF by 313.2% in the third quarter. BNP Paribas Financial Markets now owns 1,915,395 shares of the financial services provider’s stock valued at $276,526,000 after purchasing an additional 1,451,820 shares in the last quarter. WestEnd Advisors LLC purchased a new stake in iShares Biotechnology ETF in the fourth quarter valued at approximately $106,276,000. Jefferies Financial Group Inc. purchased a new stake in iShares Biotechnology ETF in the third quarter valued at approximately $65,083,000. JPMorgan Chase & Co. raised its stake in iShares Biotechnology ETF by 27.2% in the third quarter. JPMorgan Chase & Co. now owns 1,060,048 shares of the financial services provider’s stock valued at $153,039,000 after purchasing an additional 226,852 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in iShares Biotechnology ETF in the fourth quarter valued at approximately $32,962,000. 62.45% of the stock is owned by hedge funds and other institutional investors.

iShares Biotechnology ETF Trading Down 1.6%

Shares of NASDAQ IBB opened at $171.53 on Friday. iShares Biotechnology ETF has a one year low of $116.25 and a one year high of $179.64. The firm’s 50 day simple moving average is $170.40 and its two-hundred day simple moving average is $167.81.

iShares Biotechnology ETF Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 20th. Shareholders of record on Tuesday, March 17th were given a dividend of $0.1218 per share. This represents a $0.49 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Tuesday, March 17th.

iShares Biotechnology ETF Company 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.