PNC Financial Services Group Inc. Has $44.25 Million Stake in iShares Biotechnology ETF $IBB

PNC Financial Services Group Inc. reduced its position in iShares Biotechnology ETF (NASDAQ:IBB) by 2.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 306,468 shares of the financial services provider’s stock after selling 6,244 shares during the quarter. PNC Financial Services Group Inc. owned about 0.73% of iShares Biotechnology ETF worth $44,245,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. SG Americas Securities LLC grew its holdings in shares of iShares Biotechnology ETF by 96.3% during the 3rd quarter. SG Americas Securities LLC now owns 28,569 shares of the financial services provider’s stock valued at $4,125,000 after purchasing an additional 14,016 shares during the last quarter. Florin Court Capital LLP acquired a new stake in iShares Biotechnology ETF in the third quarter valued at approximately $11,116,000. Viewpoint Capital Management LLC boosted its position in iShares Biotechnology ETF by 1,532.1% in the third quarter. Viewpoint Capital Management LLC now owns 12,730 shares of the financial services provider’s stock valued at $1,838,000 after buying an additional 11,950 shares in the last quarter. Bronte Capital Management Pty Ltd. grew its stake in shares of iShares Biotechnology ETF by 12.6% during the second quarter. Bronte Capital Management Pty Ltd. now owns 295,346 shares of the financial services provider’s stock worth $37,000 after buying an additional 32,947 shares during the last quarter. Finally, Employees Retirement System of Texas acquired a new position in shares of iShares Biotechnology ETF during the second quarter worth $25,049,000. 62.45% of the stock is currently owned by institutional investors and hedge funds.

iShares Biotechnology ETF Trading Up 1.1%

Shares of IBB opened at $172.57 on Tuesday. iShares Biotechnology ETF has a 52 week low of $107.43 and a 52 week high of $179.64. The stock has a fifty day moving average of $171.73 and a 200-day moving average of $157.85.

iShares Biotechnology ETF Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Tuesday, December 16th were given a $0.1831 dividend. This is a boost from iShares Biotechnology ETF’s previous quarterly dividend of $0.08. This represents a $0.73 annualized dividend and a yield of 0.4%. The ex-dividend date was Tuesday, December 16th.

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.