Avalon Trust Co Increases Stake in iShares Biotechnology ETF (NASDAQ:IBB)

Avalon Trust Co raised its holdings in shares of iShares Biotechnology ETF (NASDAQ:IBB) by 0.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 127,893 shares of the financial services provider’s stock after buying an additional 935 shares during the period. iShares Biotechnology ETF comprises 1.2% of Avalon Trust Co’s portfolio, making the stock its 26th largest holding. Avalon Trust Co owned 0.27% of iShares Biotechnology ETF worth $16,909,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Cullen Frost Bankers Inc. increased its holdings in iShares Biotechnology ETF by 1.5% during the fourth quarter. Cullen Frost Bankers Inc. now owns 5,654 shares of the financial services provider’s stock valued at $748,000 after buying an additional 82 shares during the last quarter. Transcend Capital Advisors LLC increased its stake in shares of iShares Biotechnology ETF by 0.8% in the fourth quarter. Transcend Capital Advisors LLC now owns 10,958 shares of the financial services provider’s stock worth $1,449,000 after purchasing an additional 92 shares in the last quarter. Chicago Partners Investment Group LLC increased its stake in shares of iShares Biotechnology ETF by 2.5% in the fourth quarter. Chicago Partners Investment Group LLC now owns 3,783 shares of the financial services provider’s stock worth $510,000 after purchasing an additional 94 shares in the last quarter. WealthCare Investment Partners LLC increased its stake in shares of iShares Biotechnology ETF by 0.9% in the fourth quarter. WealthCare Investment Partners LLC now owns 10,348 shares of the financial services provider’s stock worth $1,375,000 after purchasing an additional 96 shares in the last quarter. Finally, Capital Investment Advisors LLC increased its stake in shares of iShares Biotechnology ETF by 1.0% in the fourth quarter. Capital Investment Advisors LLC now owns 10,449 shares of the financial services provider’s stock worth $1,381,000 after purchasing an additional 99 shares in the last quarter. 62.45% of the stock is owned by hedge funds and other institutional investors.

iShares Biotechnology ETF Price Performance

Shares of NASDAQ IBB opened at $134.19 on Friday. The firm has a fifty day moving average price of $136.25 and a 200-day moving average price of $139.81. The stock has a market cap of $6.34 billion, a PE ratio of 24.52 and a beta of 0.84. iShares Biotechnology ETF has a 1 year low of $123.60 and a 1 year high of $150.57.

iShares Biotechnology ETF Cuts Dividend

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