Martin & Co. Inc. TN Reduces Stock Holdings in iShares Biotechnology ETF (NASDAQ:IBB)

Martin & Co. Inc. TN decreased its holdings in iShares Biotechnology ETF (NASDAQ:IBB) by 4.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 19,325 shares of the financial services provider’s stock after selling 923 shares during the period. Martin & Co. Inc. TN’s holdings in iShares Biotechnology ETF were worth $2,555,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Darwin Wealth Management LLC bought a new position in iShares Biotechnology ETF in the third quarter worth $29,000. Highline Wealth Partners LLC bought a new position in iShares Biotechnology ETF in the third quarter worth $30,000. HHM Wealth Advisors LLC raised its holdings in iShares Biotechnology ETF by 200.0% in the fourth quarter. HHM Wealth Advisors LLC now owns 225 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 150 shares in the last quarter. Newbridge Financial Services Group Inc. bought a new position in shares of iShares Biotechnology ETF during the fourth quarter valued at $33,000. Finally, Hager Investment Management Services LLC bought a new position in shares of iShares Biotechnology ETF during the fourth quarter valued at $34,000. Hedge funds and other institutional investors own 62.45% of the company’s stock.

iShares Biotechnology ETF Stock Performance

Shares of NASDAQ:IBB opened at $136.55 on Monday. iShares Biotechnology ETF has a 1-year low of $123.60 and a 1-year high of $150.57. The business has a fifty day moving average price of $135.73 and a 200-day moving average price of $140.93.

iShares Biotechnology ETF Cuts Dividend

The firm also recently disclosed a dividend, which was paid on Friday, December 20th. Investors of record on Tuesday, December 17th were issued a $0.0624 dividend. The ex-dividend date of this dividend 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.