Park Avenue Securities LLC Invests $1.10 Million in iShares Biotechnology ETF $IBB

Park Avenue Securities LLC acquired a new stake in iShares Biotechnology ETF (NASDAQ:IBB) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 6,509 shares of the financial services provider’s stock, valued at approximately $1,099,000.

A number of other institutional investors have also recently made changes to their positions in IBB. Anderson Hoagland & Co. purchased a new stake in iShares Biotechnology ETF during the 4th quarter worth approximately $2,977,000. Tudor Investment Corp ET AL purchased a new position in iShares Biotechnology ETF in the 3rd quarter valued at approximately $931,000. CIBC Bancorp USA Inc. purchased a new position in iShares Biotechnology ETF in the 3rd quarter valued at approximately $3,210,000. Captrust Financial Advisors grew its stake in shares of iShares Biotechnology ETF by 1.8% in the third quarter. Captrust Financial Advisors now owns 19,029 shares of the financial services provider’s stock worth $2,747,000 after acquiring an additional 334 shares in the last quarter. Finally, Advisory Services Network LLC increased its position in shares of iShares Biotechnology ETF by 22.6% during the third quarter. Advisory Services Network LLC now owns 4,876 shares of the financial services provider’s stock worth $704,000 after acquiring an additional 900 shares during the period. Institutional investors and hedge funds own 62.45% of the company’s stock.

iShares Biotechnology ETF Trading Up 2.5%

Shares of NASDAQ IBB opened at $165.75 on Thursday. iShares Biotechnology ETF has a 12-month low of $107.43 and a 12-month high of $179.64. The business’s fifty day simple moving average is $171.46 and its 200-day simple moving average is $163.93.

iShares Biotechnology ETF Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 20th. Shareholders of record on Tuesday, March 17th were issued a dividend of $0.1218 per share. The ex-dividend date was Tuesday, March 17th. This represents a $0.49 annualized dividend and a yield of 0.3%.

iShares Biotechnology ETF Company 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.