Horizon Wealth Management LLC grew its stake in iShares Biotechnology ETF (NASDAQ:IBB – Free Report) by 49.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 90,107 shares of the financial services provider’s stock after buying an additional 29,822 shares during the period. iShares Biotechnology ETF accounts for 2.4% of Horizon Wealth Management LLC’s investment portfolio, making the stock its 16th largest holding. Horizon Wealth Management LLC’s holdings in iShares Biotechnology ETF were worth $18,970,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also recently modified their holdings of the stock. Bell Investment Advisors Inc acquired a new stake in iShares Biotechnology ETF during the 3rd quarter worth $29,000. Pension & Wealth Management Advisors Inc. acquired a new position in iShares Biotechnology ETF in the second quarter valued at $28,000. Provenance Wealth Advisors LLC acquired a new position in iShares Biotechnology ETF in the third quarter valued at $35,000. Trust Co. of Vermont purchased a new position in shares of iShares Biotechnology ETF during the second quarter worth about $44,000. Finally, GKV Capital Management Co. Inc. purchased a new position in shares of iShares Biotechnology ETF during the first quarter worth about $49,000. 62.45% of the stock is owned by hedge funds and other institutional investors.
iShares Biotechnology ETF Trading Down 5.0%
IBB opened at $210.18 on Friday. The business’s 50-day simple moving average is $208.49 and its 200-day simple moving average is $185.69. iShares Biotechnology ETF has a one year low of $154.98 and a one year high of $222.29.
iShares Biotechnology ETF Cuts Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, September 18th. Investors of record on Tuesday, September 15th were given a $0.0112 dividend. 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. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%.
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.
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