iShares Biotechnology ETF $IBB Position Cut by Brookstone Capital Management

Brookstone Capital Management lowered its holdings in shares of iShares Biotechnology ETF (NASDAQ:IBB) by 46.4% during the 1st quarter, Holdings Channel reports. The fund owned 6,449 shares of the financial services provider’s stock after selling 5,586 shares during the period. Brookstone Capital Management’s holdings in iShares Biotechnology ETF were worth $1,089,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Citigroup Inc. grew its stake in shares of iShares Biotechnology ETF by 40.9% in the fourth quarter. Citigroup Inc. now owns 5,242,688 shares of the financial services provider’s stock worth $884,808,000 after purchasing an additional 1,521,992 shares in the last quarter. Morgan Stanley lifted its holdings in iShares Biotechnology ETF by 2.5% in the fourth quarter. Morgan Stanley now owns 3,204,126 shares of the financial services provider’s stock worth $540,760,000 after purchasing an additional 76,978 shares during the period. BNP Paribas Financial Markets grew its position in iShares Biotechnology ETF by 11.4% in the 4th quarter. BNP Paribas Financial Markets now owns 2,133,461 shares of the financial services provider’s stock valued at $360,064,000 after buying an additional 218,066 shares in the last quarter. Raymond James Financial Inc. grew its position in iShares Biotechnology ETF by 286.2% in the 4th quarter. Raymond James Financial Inc. now owns 994,311 shares of the financial services provider’s stock valued at $167,810,000 after buying an additional 736,881 shares in the last quarter. Finally, LPL Financial LLC grew its position in iShares Biotechnology ETF by 145.9% in the 4th quarter. LPL Financial LLC now owns 992,799 shares of the financial services provider’s stock valued at $167,555,000 after buying an additional 589,033 shares in the last quarter. Institutional investors and hedge funds own 62.45% of the company’s stock.

iShares Biotechnology ETF Price Performance

iShares Biotechnology ETF stock opened at $187.38 on Friday. iShares Biotechnology ETF has a 52 week low of $125.70 and a 52 week high of $188.69. The company’s 50-day moving average price is $171.45 and its two-hundred day moving average price is $171.03.

iShares Biotechnology ETF Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Monday, June 15th were paid a dividend of $0.0238 per share. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date was Monday, June 15th.

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.