PNC Financial Services Group Inc. Decreases Stock Holdings in iShares Biotechnology ETF (NASDAQ:IBB)

PNC Financial Services Group Inc. decreased its holdings in shares of iShares Biotechnology ETF (NASDAQ:IBB) by 3.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 346,744 shares of the financial services provider’s stock after selling 11,448 shares during the period. PNC Financial Services Group Inc. owned about 0.73% of iShares Biotechnology ETF worth $45,843,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Darwin Wealth Management LLC purchased a new position in shares of iShares Biotechnology ETF during the 3rd quarter valued at approximately $29,000. HHM Wealth Advisors LLC lifted its holdings in iShares Biotechnology ETF by 200.0% in the 4th quarter. HHM Wealth Advisors LLC now owns 225 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 150 shares in the last quarter. Bradley & Co. Private Wealth Management LLC purchased a new position in iShares Biotechnology ETF in the 4th quarter valued at $32,000. Ashton Thomas Securities LLC purchased a new position in iShares Biotechnology ETF in the 3rd quarter valued at $36,000. Finally, Newbridge Financial Services Group Inc. purchased a new position in iShares Biotechnology ETF in the 4th quarter valued at $33,000. Hedge funds and other institutional investors own 62.45% of the company’s stock.

iShares Biotechnology ETF Stock Performance

Shares of IBB stock opened at $136.95 on Monday. The stock’s fifty day moving average is $136.08 and its two-hundred day moving average is $140.22. The firm has a market capitalization of $6.47 billion, a P/E ratio of 24.52 and a beta of 0.84. iShares Biotechnology ETF has a fifty-two week low of $123.60 and a fifty-two week high of $150.57.

iShares Biotechnology ETF Cuts Dividend

The company also recently disclosed a dividend, which was paid on Friday, December 20th. Shareholders of record on Tuesday, December 17th were issued a $0.0624 dividend. The ex-dividend date of this dividend was Tuesday, December 17th.

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.