Pinnacle Wealth Management Advisory Group LLC Acquires 3,417 Shares of iShares Biotechnology ETF $IBB

Pinnacle Wealth Management Advisory Group LLC boosted its holdings in shares of iShares Biotechnology ETF (NASDAQ:IBB) by 151.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,669 shares of the financial services provider’s stock after purchasing an additional 3,417 shares during the quarter. Pinnacle Wealth Management Advisory Group LLC’s holdings in iShares Biotechnology ETF were worth $957,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in IBB. Brighton Jones LLC bought a new stake in iShares Biotechnology ETF during the 4th quarter valued at approximately $201,000. AQR Capital Management LLC bought a new stake in iShares Biotechnology ETF during the 1st quarter valued at approximately $455,000. Millennium Management LLC boosted its stake in iShares Biotechnology ETF by 140.8% during the 1st quarter. Millennium Management LLC now owns 41,676 shares of the financial services provider’s stock valued at $5,330,000 after purchasing an additional 143,893 shares during the period. M&T Bank Corp boosted its stake in iShares Biotechnology ETF by 39.3% during the 2nd quarter. M&T Bank Corp now owns 2,660 shares of the financial services provider’s stock valued at $337,000 after purchasing an additional 750 shares during the period. Finally, Walleye Capital LLC boosted its stake in iShares Biotechnology ETF by 26.8% during the 2nd quarter. Walleye Capital LLC now owns 4,655 shares of the financial services provider’s stock valued at $589,000 after purchasing an additional 985 shares during the period. Institutional investors own 62.45% of the company’s stock.

iShares Biotechnology ETF Stock Performance

Shares of NASDAQ:IBB opened at $170.16 on Tuesday. The business has a 50 day moving average price of $169.84 and a 200 day moving average price of $168.65. iShares Biotechnology ETF has a twelve month low of $116.25 and a twelve month high of $179.64.

iShares Biotechnology ETF Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 20th. Investors of record on Tuesday, March 17th were paid 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%.

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.