HighTower Advisors LLC Sells 24,900 Shares of iShares Biotechnology ETF $IBB

HighTower Advisors LLC cut its stake in iShares Biotechnology ETF (NASDAQ:IBB) by 35.1% in the second quarter, HoldingsChannel reports. The fund owned 46,004 shares of the financial services provider’s stock after selling 24,900 shares during the period. HighTower Advisors LLC’s holdings in iShares Biotechnology ETF were worth $8,750,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Brighton Jones LLC acquired a new stake in shares of iShares Biotechnology ETF in the fourth quarter valued at approximately $201,000. AQR Capital Management LLC acquired a new stake in shares of iShares Biotechnology ETF in the 1st quarter valued at $455,000. Millennium Management LLC increased its stake in shares of iShares Biotechnology ETF by 140.8% in the 1st quarter. Millennium Management LLC now owns 41,676 shares of the financial services provider’s stock valued at $5,330,000 after buying an additional 143,893 shares during the period. M&T Bank Corp raised its position in shares of iShares Biotechnology ETF by 39.3% during the second quarter. M&T Bank Corp now owns 2,660 shares of the financial services provider’s stock worth $337,000 after acquiring an additional 750 shares during the last quarter. Finally, Walleye Capital LLC raised its position in shares of iShares Biotechnology ETF by 26.8% during the second quarter. Walleye Capital LLC now owns 4,655 shares of the financial services provider’s stock worth $589,000 after acquiring an additional 985 shares during the last quarter. 62.45% of the stock is owned by institutional investors.

iShares Biotechnology ETF Trading Down 0.3%

iShares Biotechnology ETF stock opened at $198.26 on Friday. The business’s 50-day simple moving average is $186.87 and its 200 day simple moving average is $176.26. iShares Biotechnology ETF has a 12-month low of $136.89 and a 12-month high of $201.72.

iShares Biotechnology ETF Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Monday, June 15th were paid a $0.0238 dividend. This represents a $0.10 annualized dividend and a dividend yield of 0.0%. The ex-dividend date of this dividend was Monday, June 15th.

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.