Legacy Edge Advisors LLC Takes $794,000 Position in iShares Biotechnology ETF $IBB

Legacy Edge Advisors LLC purchased a new stake in iShares Biotechnology ETF (NASDAQ:IBB) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 4,705 shares of the financial services provider’s stock, valued at approximately $794,000.

Several other hedge funds have also made changes to their positions in IBB. BNP Paribas Financial Markets grew its stake in shares of iShares Biotechnology ETF by 313.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,915,395 shares of the financial services provider’s stock valued at $276,526,000 after buying an additional 1,451,820 shares during the period. WestEnd Advisors LLC purchased a new position in shares of iShares Biotechnology ETF during the 4th quarter worth $106,276,000. Jefferies Financial Group Inc. purchased a new position in shares of iShares Biotechnology ETF during the 3rd quarter worth $65,083,000. JPMorgan Chase & Co. grew its holdings in shares of iShares Biotechnology ETF by 27.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,060,048 shares of the financial services provider’s stock worth $153,039,000 after purchasing an additional 226,852 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of iShares Biotechnology ETF during the 4th quarter worth $32,962,000. Hedge funds and other institutional investors own 62.45% of the company’s stock.

iShares Biotechnology ETF Trading Down 0.8%

NASDAQ IBB opened at $167.27 on Friday. iShares Biotechnology ETF has a twelve month low of $116.25 and a twelve month high of $179.64. The stock has a fifty day simple moving average of $169.84 and a 200-day simple moving average of $168.53.

iShares Biotechnology ETF Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 20th. Investors of record on Tuesday, March 17th were issued 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.

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.