Cetera Investment Advisers Decreases Stock Position in iShares Biotechnology ETF (NASDAQ:IBB)

Cetera Investment Advisers cut its holdings in iShares Biotechnology ETF (NASDAQ:IBB) by 18.4% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 65,305 shares of the financial services provider’s stock after selling 14,743 shares during the quarter. Cetera Investment Advisers’ holdings in iShares Biotechnology ETF were worth $8,634,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Captrust Financial Advisors increased its holdings in shares of iShares Biotechnology ETF by 13.6% in the fourth quarter. Captrust Financial Advisors now owns 52,787 shares of the financial services provider’s stock valued at $6,979,000 after purchasing an additional 6,301 shares during the period. Baird Financial Group Inc. increased its holdings in shares of iShares Biotechnology ETF by 2.9% in the fourth quarter. Baird Financial Group Inc. now owns 28,073 shares of the financial services provider’s stock valued at $3,712,000 after purchasing an additional 800 shares during the period. Battery Global Advisors LLC increased its holdings in shares of iShares Biotechnology ETF by 18.9% in the fourth quarter. Battery Global Advisors LLC now owns 9,233 shares of the financial services provider’s stock valued at $1,221,000 after purchasing an additional 1,470 shares during the period. Beverly Hills Private Wealth LLC increased its holdings in shares of iShares Biotechnology ETF by 79.8% in the fourth quarter. Beverly Hills Private Wealth LLC now owns 2,972 shares of the financial services provider’s stock valued at $393,000 after purchasing an additional 1,319 shares during the period. Finally, Bank of America Corp DE increased its holdings in shares of iShares Biotechnology ETF by 6.5% in the fourth quarter. Bank of America Corp DE now owns 7,489,427 shares of the financial services provider’s stock valued at $990,177,000 after purchasing an additional 460,154 shares during the period. 62.45% of the stock is currently owned by hedge funds and other institutional investors.

iShares Biotechnology ETF Stock Performance

Shares of IBB stock opened at $116.59 on Monday. The stock’s 50-day simple moving average is $125.40 and its 200-day simple moving average is $133.42. The firm has a market capitalization of $5.10 billion, a PE ratio of 25.09 and a beta of 0.84. iShares Biotechnology ETF has a fifty-two week low of $107.43 and a fifty-two week high of $150.57.

iShares Biotechnology ETF Increases Dividend

The business also recently announced a dividend, which was paid on Friday, March 21st. Investors of record on Tuesday, March 18th were issued a dividend of $0.1212 per share. This is a positive change from iShares Biotechnology ETF’s previous dividend of $0.06. The ex-dividend date was Tuesday, March 18th.

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.