iShares Biotechnology ETF (NASDAQ:IBB) Reaches New 52-Week High – Here’s What Happened

iShares Biotechnology ETF (NASDAQ:IBB) hit a new 52-week high on Thursday. The company traded as high as $222.40 and last traded at $218.9640, with a volume of 5,645 shares. The stock had previously closed at $221.13.

iShares Biotechnology ETF Stock Down 1.4%

The firm has a fifty day moving average price of $208.59 and a 200-day moving average price of $185.49.

iShares Biotechnology ETF Cuts Dividend

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

Institutional Investors Weigh In On iShares Biotechnology ETF

Hedge funds have recently made changes to their positions in the business. Kaydan Wealth Management Inc. raised its position in iShares Biotechnology ETF by 3.9% in the third quarter. Kaydan Wealth Management Inc. now owns 1,363 shares of the financial services provider’s stock worth $287,000 after acquiring an additional 51 shares during the period. Carter Financial Group INC. boosted its stake in iShares Biotechnology ETF by 2.2% in the second quarter. Carter Financial Group INC. now owns 2,423 shares of the financial services provider’s stock valued at $461,000 after acquiring an additional 53 shares during the last quarter. Parallel Advisors LLC grew its position in shares of iShares Biotechnology ETF by 8.8% during the 1st quarter. Parallel Advisors LLC now owns 744 shares of the financial services provider’s stock valued at $126,000 after acquiring an additional 60 shares during the period. Apollon Wealth Management LLC grew its position in shares of iShares Biotechnology ETF by 0.7% during the 3rd quarter. Apollon Wealth Management LLC now owns 8,178 shares of the financial services provider’s stock valued at $1,722,000 after acquiring an additional 60 shares during the period. Finally, Global Assets Advisory LLC grew its position in shares of iShares Biotechnology ETF by 3.1% during the 3rd quarter. Global Assets Advisory LLC now owns 2,082 shares of the financial services provider’s stock valued at $432,000 after acquiring an additional 62 shares during the period. 62.45% of the stock is currently owned by institutional investors.

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.