Massachusetts Wealth Management Grows Stock Position in iShares Biotechnology ETF $IBB

Massachusetts Wealth Management raised its holdings in iShares Biotechnology ETF (NASDAQ:IBB) by 12.6% in the second quarter, HoldingsChannel reports. The institutional investor owned 2,803 shares of the financial services provider’s stock after acquiring an additional 313 shares during the quarter. Massachusetts Wealth Management’s holdings in iShares Biotechnology ETF were worth $355,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Moors & Cabot Inc. raised its stake in iShares Biotechnology ETF by 2.0% in the first quarter. Moors & Cabot Inc. now owns 29,053 shares of the financial services provider’s stock valued at $3,716,000 after buying an additional 558 shares during the last quarter. IFP Advisors Inc raised its stake in shares of iShares Biotechnology ETF by 23.9% in the first quarter. IFP Advisors Inc now owns 19,849 shares of the financial services provider’s stock worth $2,539,000 after purchasing an additional 3,831 shares during the last quarter. N.E.W. Advisory Services LLC purchased a new position in shares of iShares Biotechnology ETF in the first quarter worth about $45,000. Kingswood Wealth Advisors LLC raised its stake in shares of iShares Biotechnology ETF by 81.2% in the first quarter. Kingswood Wealth Advisors LLC now owns 4,532 shares of the financial services provider’s stock worth $570,000 after purchasing an additional 2,031 shares during the last quarter. Finally, John G Ullman & Associates Inc. purchased a new position in shares of iShares Biotechnology ETF in the first quarter worth about $230,000. 62.45% of the stock is currently owned by hedge funds and other institutional investors.

iShares Biotechnology ETF Stock Performance

Shares of NASDAQ:IBB opened at $151.99 on Thursday. iShares Biotechnology ETF has a 52-week low of $107.43 and a 52-week high of $153.01. The business has a 50-day moving average price of $140.21 and a 200-day moving average price of $130.36.

iShares Biotechnology ETF Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Tuesday, September 16th were paid a $0.0828 dividend. This represents a $0.33 annualized dividend and a dividend yield of 0.2%. The ex-dividend date was Tuesday, September 16th.

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.