Bronte Capital Management Pty Ltd. Has $12.21 Million Stake in iShares Biotechnology ETF $IBB

Bronte Capital Management Pty Ltd. trimmed its stake in shares of iShares Biotechnology ETF (NASDAQ:IBB) by 74.3% during the fourth quarter, HoldingsChannel reports. The fund owned 72,350 shares of the financial services provider’s stock after selling 209,072 shares during the period. iShares Biotechnology ETF comprises about 1.3% of Bronte Capital Management Pty Ltd.’s investment portfolio, making the stock its 16th largest position. Bronte Capital Management Pty Ltd.’s holdings in iShares Biotechnology ETF were worth $12,211,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. BNP Paribas Financial Markets raised its holdings in shares of iShares Biotechnology ETF by 313.2% during the third quarter. BNP Paribas Financial Markets now owns 1,915,395 shares of the financial services provider’s stock worth $276,526,000 after acquiring an additional 1,451,820 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of iShares Biotechnology ETF by 27.2% during the third quarter. JPMorgan Chase & Co. now owns 1,060,048 shares of the financial services provider’s stock worth $153,039,000 after acquiring an additional 226,852 shares during the period. Truist Financial Corp raised its holdings 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 acquiring an additional 614,582 shares during the period. WestEnd Advisors LLC acquired a new stake in shares of iShares Biotechnology ETF during the fourth quarter worth $106,276,000. Finally, Jefferies Financial Group Inc. acquired a new stake in iShares Biotechnology ETF in the 3rd quarter valued at $65,083,000. 62.45% of the stock is currently owned by institutional investors and hedge funds.

iShares Biotechnology ETF Trading Up 0.1%

Shares of IBB stock opened at $170.34 on Wednesday. iShares Biotechnology ETF has a 1 year low of $116.25 and a 1 year high of $179.64. The firm’s fifty day moving average price is $169.76 and its two-hundred day moving average price is $168.77.

iShares Biotechnology ETF Cuts Dividend

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

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.