Independent Wealth Network Inc. Decreases Stock Holdings in iShares Biotechnology ETF (NASDAQ:IBB)

Independent Wealth Network Inc. reduced its stake in shares of iShares Biotechnology ETF (NASDAQ:IBB) by 3.0% in the fourth quarter, HoldingsChannel reports. The firm owned 3,532 shares of the financial services provider’s stock after selling 110 shares during the period. Independent Wealth Network Inc.’s holdings in iShares Biotechnology ETF were worth $467,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in IBB. Darwin Wealth Management LLC acquired a new position in iShares Biotechnology ETF during the 3rd quarter valued at about $29,000. Highline Wealth Partners LLC acquired a new position in shares of iShares Biotechnology ETF in the third quarter valued at about $30,000. Ashton Thomas Securities LLC acquired a new position in shares of iShares Biotechnology ETF in the third quarter valued at about $36,000. Modus Advisors LLC acquired a new position in shares of iShares Biotechnology ETF in the fourth quarter valued at about $41,000. Finally, Voisard Asset Management Group Inc. acquired a new position in shares of iShares Biotechnology ETF in the third quarter valued at about $59,000. 62.45% of the stock is currently owned by hedge funds and other institutional investors.

iShares Biotechnology ETF Price Performance

Shares of IBB stock opened at $136.29 on Thursday. iShares Biotechnology ETF has a fifty-two week low of $123.60 and a fifty-two week high of $150.57. The stock’s 50-day simple moving average is $136.00 and its 200-day simple moving average is $141.81.

iShares Biotechnology ETF Cuts Dividend

The firm also recently declared a dividend, which was paid on Friday, December 20th. Shareholders of record on Tuesday, December 17th were given a dividend of $0.0624 per share. The ex-dividend date of this dividend was Tuesday, December 17th.

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.