Ocean Park Asset Management LLC Acquires New Stake in iShares Biotechnology ETF $IBB

Ocean Park Asset Management LLC acquired a new position in shares of iShares Biotechnology ETF (NASDAQ:IBB) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 43,823 shares of the financial services provider’s stock, valued at approximately $7,396,000.

Other hedge funds also recently made changes to their positions in the company. Darwin Wealth Management LLC purchased a new stake in shares of iShares Biotechnology ETF in the second quarter valued at about $25,000. Ashton Thomas Securities LLC acquired a new stake in iShares Biotechnology ETF in the third quarter valued at about $36,000. Parkside Financial Bank & Trust boosted its holdings in iShares Biotechnology ETF by 48.6% in the 3rd quarter. Parkside Financial Bank & Trust now owns 266 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 87 shares in the last quarter. Close Asset Management Ltd boosted its holdings in iShares Biotechnology ETF by 25.5% in the 3rd quarter. Close Asset Management Ltd now owns 345 shares of the financial services provider’s stock valued at $50,000 after purchasing an additional 70 shares in the last quarter. Finally, Founders Financial Alliance LLC increased its position in iShares Biotechnology ETF by 605.7% during the 3rd quarter. Founders Financial Alliance LLC now owns 374 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 321 shares during the period. Institutional investors and hedge funds own 62.45% of the company’s stock.

iShares Biotechnology ETF Price Performance

IBB opened at $160.41 on Monday. iShares Biotechnology ETF has a 12 month low of $107.43 and a 12 month high of $179.64. The business has a 50 day simple moving average of $171.17 and a 200-day simple moving average of $164.38.

iShares Biotechnology ETF Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 20th. Shareholders of record on Tuesday, March 17th were given a dividend of $0.1218 per share. This represents a $0.49 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Tuesday, March 17th.

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.