CAPROCK Group Inc. raised its stake in iShares NASDAQ Biotechnology Index (NASDAQ:IBB) by 8.1% during the first quarter, Holdings Channel reports. The fund owned 4,629 shares of the financial services provider’s stock after buying an additional 348 shares during the period. CAPROCK Group Inc.’s holdings in iShares NASDAQ Biotechnology Index were worth $1,357,000 as of its most recent SEC filing.
Separately, Northern Capital Management LLC increased its position in iShares NASDAQ Biotechnology Index by 9.0% in the first quarter. Northern Capital Management LLC now owns 1,215 shares of the financial services provider’s stock valued at $356,000 after buying an additional 100 shares during the last quarter. 59.91% of the stock is owned by hedge funds and other institutional investors.
iShares NASDAQ Biotechnology Index (NASDAQ:IBB) traded down 0.98% on Friday, reaching $287.49. The company’s stock had a trading volume of 1,070,391 shares. iShares NASDAQ Biotechnology Index has a 12-month low of $240.30 and a 12-month high of $303.74. The firm has a 50-day moving average of $293.49 and a 200 day moving average of $280.95. iShares NASDAQ Biotechnology Index also was the target of some unusual options trading on Wednesday. Investors bought 1,021 put options on the stock. This is an increase of approximately 405% compared to the average volume of 202 put options.
The firm also recently declared a quarterly dividend, which was paid on Thursday, March 30th. Stockholders of record on Tuesday, March 28th were paid a $0.299 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.42%. The ex-dividend date of this dividend was Friday, March 24th. This is a positive change from iShares NASDAQ Biotechnology Index’s previous quarterly dividend of $0.09.
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IBB has been the subject of several recent analyst reports. Credit Suisse Group AG upgraded iShares NASDAQ Biotechnology Index from a “market weight” rating to an “overweight” rating in a research note on Tuesday, March 21st. They noted that the move was a valuation call. Vetr upgraded iShares NASDAQ Biotechnology Index from a “hold” rating to a “buy” rating and set a $301.57 price target for the company in a research note on Wednesday, April 12th.
iShares NASDAQ Biotechnology Index 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.
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