2,794 Shares in iShares Biotechnology ETF $IBB Acquired by Navellier & Associates Inc.

Navellier & Associates Inc. bought a new position in iShares Biotechnology ETF (NASDAQ:IBB) in the second quarter, according to the company in its most recent disclosure with the SEC. The fund bought 2,794 shares of the financial services provider’s stock, valued at approximately $531,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. World Investment Advisors boosted its position in iShares Biotechnology ETF by 50.4% in the fourth quarter. World Investment Advisors now owns 11,853 shares of the financial services provider’s stock worth $2,000,000 after purchasing an additional 3,973 shares during the last quarter. BNP Paribas Financial Markets increased its position in shares of iShares Biotechnology ETF by 11.4% during the 4th quarter. BNP Paribas Financial Markets now owns 2,133,461 shares of the financial services provider’s stock valued at $360,064,000 after purchasing an additional 218,066 shares during the last quarter. Truist Financial Corp increased its position in shares of iShares Biotechnology ETF by 2,239.6% during the 4th quarter. Truist Financial Corp now owns 642,023 shares of the financial services provider’s stock valued at $108,354,000 after purchasing an additional 614,582 shares during the last quarter. Pinnacle Wealth Management Advisory Group LLC lifted its stake in shares of iShares Biotechnology ETF by 151.7% in the 4th quarter. Pinnacle Wealth Management Advisory Group LLC now owns 5,669 shares of the financial services provider’s stock worth $957,000 after purchasing an additional 3,417 shares during the period. Finally, HighTower Advisors LLC lifted its stake in shares of iShares Biotechnology ETF by 35.5% in the 4th quarter. HighTower Advisors LLC now owns 70,519 shares of the financial services provider’s stock worth $11,901,000 after purchasing an additional 18,479 shares during the period. 62.45% of the stock is currently owned by hedge funds and other institutional investors.

iShares Biotechnology ETF Price Performance

IBB opened at $208.95 on Friday. The company’s 50 day moving average is $195.01 and its 200 day moving average is $178.87. iShares Biotechnology ETF has a 12-month low of $137.63 and a 12-month high of $217.12.

iShares Biotechnology ETF Cuts Dividend

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

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.