iShares Biotechnology ETF (NASDAQ:IBB) Reaches New 52-Week Low – Time to Sell?

iShares Biotechnology ETF (NASDAQ:IBB)’s share price hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $123.21 and last traded at $125.14, with a volume of 178455 shares changing hands. The stock had previously closed at $124.44.

iShares Biotechnology ETF Trading Up 1.0 %

The company has a 50 day moving average of $135.83 and a 200 day moving average of $138.58. The firm has a market cap of $5.94 billion, a price-to-earnings ratio of 27.83 and a beta of 0.84.

iShares Biotechnology ETF Increases Dividend

The business also recently declared a dividend, which was paid on Friday, March 21st. Investors of record on Tuesday, March 18th were given a dividend of $0.1212 per share. This is an increase from iShares Biotechnology ETF’s previous dividend of $0.06. The ex-dividend date of this dividend was Tuesday, March 18th.

Institutional Investors Weigh In On iShares Biotechnology ETF

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE grew its stake in shares of iShares Biotechnology ETF by 6.5% during the fourth quarter. Bank of America Corp DE now owns 7,489,427 shares of the financial services provider’s stock valued at $990,177,000 after purchasing an additional 460,154 shares during the last quarter. Raymond James Financial Inc. bought a new position in iShares Biotechnology ETF in the fourth quarter valued at about $55,010,000. Aprio Wealth Management LLC bought a new position in shares of iShares Biotechnology ETF in the 4th quarter valued at about $18,476,000. Generali Investments CEE investicni spolecnost a.s. acquired a new stake in iShares Biotechnology ETF during the 4th quarter worth $11,370,000. Finally, Focus Partners Wealth lifted its stake in shares of iShares Biotechnology ETF by 168.2% in the 4th quarter. Focus Partners Wealth now owns 121,996 shares of the financial services provider’s stock valued at $16,485,000 after purchasing an additional 76,509 shares during the period. Institutional investors and hedge funds own 62.45% of the company’s stock.

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.