Perkins Coie Trust Co Sells 525 Shares of iShares Biotechnology ETF (NASDAQ:IBB)

Perkins Coie Trust Co reduced its stake in shares of iShares Biotechnology ETF (NASDAQ:IBB) by 2.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 22,612 shares of the financial services provider’s stock after selling 525 shares during the period. Perkins Coie Trust Co’s holdings in iShares Biotechnology ETF were worth $2,892,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Proficio Capital Partners LLC bought a new position in iShares Biotechnology ETF during the 4th quarter worth $480,000. IFP Advisors Inc raised its position in shares of iShares Biotechnology ETF by 237.1% in the 4th quarter. IFP Advisors Inc now owns 16,018 shares of the financial services provider’s stock worth $2,118,000 after acquiring an additional 11,266 shares in the last quarter. FineMark National Bank & Trust bought a new position in shares of iShares Biotechnology ETF in the 4th quarter worth about $319,000. Cullen Frost Bankers Inc. raised its position in shares of iShares Biotechnology ETF by 1.5% in the 4th quarter. Cullen Frost Bankers Inc. now owns 5,654 shares of the financial services provider’s stock worth $748,000 after acquiring an additional 82 shares in the last quarter. Finally, Modern Wealth Management LLC bought a new position in shares of iShares Biotechnology ETF in the 4th quarter worth about $237,000. 62.45% of the stock is owned by institutional investors.

iShares Biotechnology ETF Trading Up 1.5%

IBB stock opened at $126.96 on Friday. The stock has a 50-day moving average price of $121.04 and a 200-day moving average price of $130.81. iShares Biotechnology ETF has a 1-year low of $107.43 and a 1-year high of $150.57. The firm has a market cap of $5.55 billion, a PE ratio of 23.96 and a beta of 0.84.

iShares Biotechnology ETF Increases Dividend

The company also recently announced a dividend, which was paid on Friday, March 21st. Investors of record on Tuesday, March 18th were given a $0.1212 dividend. This is a positive change from iShares Biotechnology ETF’s previous dividend of $0.06. The ex-dividend date was Tuesday, March 18th.

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.