Connecticut Wealth Management LLC Sells 748 Shares of iShares Biotechnology ETF (NASDAQ:IBB)

Connecticut Wealth Management LLC lowered its stake in shares of iShares Biotechnology ETF (NASDAQ:IBB) by 8.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,425 shares of the financial services provider’s stock after selling 748 shares during the quarter. Connecticut Wealth Management LLC’s holdings in iShares Biotechnology ETF were worth $1,145,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp raised its stake in iShares Biotechnology ETF by 3.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 21,146 shares of the financial services provider’s stock valued at $2,586,000 after purchasing an additional 716 shares during the last quarter. Macroview Investment Management LLC increased its stake in iShares Biotechnology ETF by 5,340.0% during the third quarter. Macroview Investment Management LLC now owns 544 shares of the financial services provider’s stock valued at $67,000 after acquiring an additional 534 shares during the period. Park Avenue Securities LLC acquired a new position in iShares Biotechnology ETF in the 3rd quarter valued at approximately $238,000. CENTRAL TRUST Co lifted its position in shares of iShares Biotechnology ETF by 1.2% in the 3rd quarter. CENTRAL TRUST Co now owns 14,838 shares of the financial services provider’s stock worth $1,815,000 after acquiring an additional 174 shares during the period. Finally, Whittier Trust Co. grew its holdings in shares of iShares Biotechnology ETF by 26.4% during the 3rd quarter. Whittier Trust Co. now owns 6,471 shares of the financial services provider’s stock worth $791,000 after purchasing an additional 1,350 shares in the last quarter. Institutional investors and hedge funds own 62.45% of the company’s stock.

iShares Biotechnology ETF Trading Up 1.8 %

IBB stock traded up $2.31 during midday trading on Friday, hitting $132.96. The stock had a trading volume of 1,804,184 shares, compared to its average volume of 1,700,513. The firm has a market capitalization of $7.27 billion, a price-to-earnings ratio of 17.35 and a beta of 0.86. The stock has a 50-day simple moving average of $133.61 and a 200 day simple moving average of $130.05. iShares Biotechnology ETF has a 52 week low of $111.83 and a 52 week high of $141.16.

iShares Biotechnology ETF Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Friday, March 22nd were given a $0.126 dividend. This represents a $0.50 annualized dividend and a yield of 0.38%. The ex-dividend date was Thursday, March 21st.

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.