Modern Wealth Management LLC Invests $237,000 in iShares Biotechnology ETF (NASDAQ:IBB)

Modern Wealth Management LLC purchased a new position in iShares Biotechnology ETF (NASDAQ:IBB) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,738 shares of the financial services provider’s stock, valued at approximately $237,000.

Other institutional investors have also recently added to or reduced their stakes in the company. National Bank of Canada FI increased its position in shares of iShares Biotechnology ETF by 5.9% in the 3rd quarter. National Bank of Canada FI now owns 4,124 shares of the financial services provider’s stock worth $600,000 after purchasing an additional 229 shares during the last quarter. IFP Advisors Inc increased its holdings in iShares Biotechnology ETF by 237.1% in the fourth quarter. IFP Advisors Inc now owns 16,018 shares of the financial services provider’s stock valued at $2,118,000 after buying an additional 11,266 shares during the last quarter. Main Management ETF Advisors LLC raised its stake in iShares Biotechnology ETF by 2.5% during the third quarter. Main Management ETF Advisors LLC now owns 593,370 shares of the financial services provider’s stock valued at $86,395,000 after buying an additional 14,535 shares in the last quarter. Proficio Capital Partners LLC bought a new position in iShares Biotechnology ETF during the 4th quarter worth approximately $480,000. Finally, Cullen Frost Bankers Inc. grew its position in shares of iShares Biotechnology ETF by 1.5% in the 4th quarter. Cullen Frost Bankers Inc. now owns 5,654 shares of the financial services provider’s stock worth $748,000 after acquiring an additional 82 shares in the last quarter. 62.45% of the stock is owned by institutional investors and hedge funds.

iShares Biotechnology ETF Trading Down 1.0 %

IBB stock opened at $130.29 on Friday. The stock’s 50 day simple moving average is $136.16 and its 200 day simple moving average is $138.96. iShares Biotechnology ETF has a 12-month low of $123.60 and a 12-month high of $150.57. The firm has a market cap of $6.16 billion, a P/E ratio of 27.83 and a beta of 0.84.

iShares Biotechnology ETF Increases Dividend

The firm also recently announced a dividend, which was paid on Friday, March 21st. Shareholders of record on Tuesday, March 18th were issued a dividend of $0.1212 per share. This is a boost from iShares Biotechnology ETF’s previous dividend of $0.06. The ex-dividend date was Tuesday, March 18th.

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.