iShares Biotechnology ETF (NASDAQ:IBB) Reaches New 1-Year High – What’s Next?

iShares Biotechnology ETF (NASDAQ:IBB) shares hit a new 52-week high during trading on Thursday. The company traded as high as $222.40 and last traded at $218.9640, with a volume of 5,645 shares trading hands. The stock had previously closed at $221.13.

iShares Biotechnology ETF Stock Up 1.7%

The company’s fifty day simple moving average is $208.46 and its two-hundred day simple moving average is $185.91.

iShares Biotechnology ETF Cuts Dividend

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

Institutional Trading of iShares Biotechnology ETF

Institutional investors have recently modified their holdings of the company. Bell Investment Advisors Inc acquired a new stake in shares of iShares Biotechnology ETF during the third quarter valued at about $29,000. Pension & Wealth Management Advisors Inc. purchased a new stake in iShares Biotechnology ETF in the 2nd quarter worth approximately $28,000. Provenance Wealth Advisors LLC bought a new position in iShares Biotechnology ETF during the third quarter valued at about $35,000. Flagship Wealth Advisors LLC raised its stake in shares of iShares Biotechnology ETF by 460.0% during the third quarter. Flagship Wealth Advisors LLC now owns 168 shares of the financial services provider’s stock worth $35,000 after buying an additional 138 shares during the last quarter. Finally, Trust Co. of Vermont bought a new stake in iShares Biotechnology ETF during the second quarter worth about $44,000. 62.45% of the stock is currently owned by institutional investors.

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.