iShares Biotechnology ETF $IBB Stock: Cumberland Advisors Inc. Reduces Stake

Cumberland Advisors Inc. lessened its position in iShares Biotechnology ETF (NASDAQ:IBB) by 3.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 61,553 shares of the financial services provider’s stock after selling 2,465 shares during the quarter. iShares Biotechnology ETF comprises about 4.6% of Cumberland Advisors Inc.’s investment portfolio, making the stock its 4th biggest position. Cumberland Advisors Inc. owned about 0.12% of iShares Biotechnology ETF worth $12,959,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of IBB. First Nebraska Trust Co bought a new stake in iShares Biotechnology ETF during the third quarter valued at about $344,000. GRIMES & Co WEALTH MANAGEMENT LLC grew its position in shares of iShares Biotechnology ETF by 5.2% in the third quarter. GRIMES & Co WEALTH MANAGEMENT LLC now owns 20,377 shares of the financial services provider’s stock valued at $4,290,000 after purchasing an additional 1,010 shares during the last quarter. Capital CS Group LLC bought a new position in shares of iShares Biotechnology ETF in the third quarter worth about $584,000. Traynor Capital Management Inc. increased its stake in shares of iShares Biotechnology ETF by 39.6% in the third quarter. Traynor Capital Management Inc. now owns 24,223 shares of the financial services provider’s stock worth $5,100,000 after purchasing an additional 6,869 shares during the period. Finally, Virtue Capital Management LLC bought a new position in shares of iShares Biotechnology ETF in the third quarter worth about $2,931,000. Institutional investors and hedge funds own 62.45% of the company’s stock.

iShares Biotechnology ETF Price Performance

NASDAQ IBB opened at $215.47 on Wednesday. iShares Biotechnology ETF has a twelve month low of $154.63 and a twelve month high of $222.29. The stock has a 50-day simple moving average of $208.49 and a 200 day simple moving average of $185.24.

iShares Biotechnology ETF Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 18th. Shareholders of record on Tuesday, September 15th were given a $0.0112 dividend. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $0.04 annualized dividend and a yield of 0.0%. This is a decrease from iShares Biotechnology ETF’s previous quarterly dividend of $0.0238.

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.