The Manufacturers Life Insurance Company Purchases 4,533 Shares of iShares Biotechnology ETF $IBB

The Manufacturers Life Insurance Company grew its position in iShares Biotechnology ETF (NASDAQ:IBB) by 7.9% during the first quarter, Holdings Channel reports. The institutional investor owned 62,078 shares of the financial services provider’s stock after acquiring an additional 4,533 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in iShares Biotechnology ETF were worth $10,482,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Citigroup Inc. raised its stake in shares of iShares Biotechnology ETF by 40.9% during the 4th quarter. Citigroup Inc. now owns 5,242,688 shares of the financial services provider’s stock worth $884,808,000 after acquiring an additional 1,521,992 shares in the last quarter. Raymond James Financial Inc. grew its holdings in iShares Biotechnology ETF by 286.2% in the fourth quarter. Raymond James Financial Inc. now owns 994,311 shares of the financial services provider’s stock worth $167,810,000 after purchasing an additional 736,881 shares during the last quarter. WestEnd Advisors LLC purchased a new position in iShares Biotechnology ETF in the fourth quarter worth $106,276,000. Truist Financial Corp increased its position in shares of iShares Biotechnology ETF by 2,239.6% during the fourth quarter. Truist Financial Corp now owns 642,023 shares of the financial services provider’s stock worth $108,354,000 after purchasing an additional 614,582 shares in the last quarter. Finally, LPL Financial LLC increased its position in shares of iShares Biotechnology ETF by 145.9% during the fourth quarter. LPL Financial LLC now owns 992,799 shares of the financial services provider’s stock worth $167,555,000 after purchasing an additional 589,033 shares in the last quarter. Hedge funds and other institutional investors own 62.45% of the company’s stock.

iShares Biotechnology ETF Trading Down 0.3%

Shares of IBB opened at $185.91 on Tuesday. iShares Biotechnology ETF has a 12 month low of $130.25 and a 12 month high of $199.05. The stock has a fifty day moving average price of $182.06 and a 200-day moving average price of $174.76.

iShares Biotechnology ETF Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Monday, June 15th were given a dividend of $0.0238 per share. This represents a $0.10 annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend was Monday, June 15th.

iShares Biotechnology ETF Profile

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.