6,869 iShares Biotechnology ETF $IBB Shares Bought by Traynor Capital Management Inc.

Traynor Capital Management Inc. raised its position in iShares Biotechnology ETF (NASDAQ:IBB) by 39.6% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 24,223 shares of the financial services provider’s stock after acquiring an additional 6,869 shares during the period. Traynor Capital Management Inc.’s holdings in iShares Biotechnology ETF were worth $5,100,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Bank of America Corp DE raised its position in shares of iShares Biotechnology ETF by 10.8% during the 1st quarter. Bank of America Corp DE now owns 7,259,501 shares of the financial services provider’s stock valued at $1,225,767,000 after buying an additional 707,343 shares during the period. Henshaw Capital LLC acquired a new stake in iShares Biotechnology ETF during the first quarter worth $20,262,000. MinichMacGregor Wealth Management LLC raised its position in iShares Biotechnology ETF by 3,323.4% in the third quarter. MinichMacGregor Wealth Management LLC now owns 78,396 shares of the financial services provider’s stock valued at $16,505,000 after purchasing an additional 76,106 shares during the period. Redstone Wealth Management LLC acquired a new position in shares of iShares Biotechnology ETF in the 3rd quarter valued at $12,401,000. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of iShares Biotechnology ETF by 64.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 101,838 shares of the financial services provider’s stock worth $19,369,000 after purchasing an additional 39,760 shares during the period. 62.45% of the stock is currently owned by institutional investors and hedge funds.

iShares Biotechnology ETF Stock Performance

NASDAQ IBB opened at $217.61 on Monday. The stock has a fifty day simple moving average of $208.43 and a 200-day simple moving average of $184.81. iShares Biotechnology ETF has a twelve month low of $154.62 and a twelve month high of $222.29.

iShares Biotechnology ETF Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 18th. Shareholders of record on Tuesday, September 15th were paid a dividend of $0.0112 per share. This represents a $0.04 annualized dividend and a yield of 0.0%. This is a drop from iShares Biotechnology ETF’s previous quarterly dividend of $0.0238. The ex-dividend date of this dividend was Tuesday, September 15th.

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.