Independent Advisor Alliance Purchases Shares of 51,196 iShares Biotechnology ETF (NASDAQ:IBB)

Independent Advisor Alliance purchased a new stake in shares of iShares Biotechnology ETF (NASDAQ:IBB) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 51,196 shares of the financial services provider’s stock, valued at approximately $6,769,000.

Several other institutional investors have also added to or reduced their stakes in IBB. Darwin Wealth Management LLC purchased a new position in iShares Biotechnology ETF during the 3rd quarter valued at approximately $29,000. HHM Wealth Advisors LLC grew its holdings in iShares Biotechnology ETF by 200.0% during the 4th quarter. HHM Wealth Advisors LLC now owns 225 shares of the financial services provider’s stock valued at $30,000 after buying an additional 150 shares in the last quarter. Bradley & Co. Private Wealth Management LLC purchased a new position in iShares Biotechnology ETF during the 4th quarter valued at approximately $32,000. Newbridge Financial Services Group Inc. purchased a new position in iShares Biotechnology ETF during the 4th quarter valued at approximately $33,000. Finally, Hager Investment Management Services LLC purchased a new position in iShares Biotechnology ETF during the 4th quarter valued at approximately $34,000. Hedge funds and other institutional investors own 62.45% of the company’s stock.

iShares Biotechnology ETF Price Performance

NASDAQ IBB opened at $135.84 on Tuesday. The stock has a market capitalization of $6.42 billion, a PE ratio of 24.52 and a beta of 0.84. The business has a 50 day simple moving average of $136.08 and a two-hundred day simple moving average of $140.22. 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 business also recently announced a dividend, which was paid on Friday, December 20th. Stockholders of record on Tuesday, December 17th were issued a $0.0624 dividend. The ex-dividend date 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.