Richmond Brothers Inc. Sells 2,602 Shares of iShares Biotechnology ETF (NASDAQ:IBB)

Richmond Brothers Inc. lowered its stake in iShares Biotechnology ETF (NASDAQ:IBB) by 40.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,777 shares of the financial services provider’s stock after selling 2,602 shares during the period. iShares Biotechnology ETF makes up approximately 0.3% of Richmond Brothers Inc.’s investment portfolio, making the stock its 25th biggest position. Richmond Brothers Inc.’s holdings in iShares Biotechnology ETF were worth $499,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in IBB. Darwin Wealth Management LLC purchased a new position in iShares Biotechnology ETF in the third quarter worth about $29,000. HHM Wealth Advisors LLC grew its position in iShares Biotechnology ETF by 200.0% in the fourth quarter. HHM Wealth Advisors LLC now owns 225 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 150 shares in the last quarter. VSM Wealth Advisory LLC purchased a new position in iShares Biotechnology ETF in the fourth quarter worth about $30,000. Bradley & Co. Private Wealth Management LLC purchased a new position in shares of iShares Biotechnology ETF during the fourth quarter valued at approximately $32,000. Finally, Newbridge Financial Services Group Inc. purchased a new position in shares of iShares Biotechnology ETF during the fourth quarter valued at approximately $33,000. Hedge funds and other institutional investors own 62.45% of the company’s stock.

iShares Biotechnology ETF Price Performance

Shares of NASDAQ:IBB opened at $134.09 on Wednesday. iShares Biotechnology ETF has a 1 year low of $123.60 and a 1 year high of $150.57. The business has a 50 day simple moving average of $136.26 and a two-hundred day simple moving average of $139.57. The firm has a market capitalization of $6.11 billion, a PE ratio of 27.83 and a beta of 0.77.

iShares Biotechnology ETF Increases Dividend

The firm also recently announced a dividend, which will be paid on Friday, March 21st. Shareholders of record on Tuesday, March 18th will be given a dividend of $0.1212 per share. The ex-dividend date of this dividend is Tuesday, March 18th. This is a positive change from iShares Biotechnology ETF’s previous dividend of $0.06.

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.