iShares Biotechnology ETF (NASDAQ:IBB) Hits New 52-Week High – Should You Buy?

iShares Biotechnology ETF (NASDAQ:IBB)’s stock price reached a new 52-week high on Monday . The stock traded as high as $201.91 and last traded at $201.87, with a volume of 360482 shares. The stock had previously closed at $198.26.

iShares Biotechnology ETF Stock Up 1.8%

The company has a 50 day moving average of $186.87 and a 200-day moving average of $176.26.

iShares Biotechnology ETF Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Monday, June 15th were issued a dividend of $0.0238 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.0%.

Hedge Funds Weigh In On iShares Biotechnology ETF

Institutional investors and hedge funds have recently modified their holdings of the business. Darwin Wealth Management LLC acquired a new stake in iShares Biotechnology ETF in the 2nd quarter worth about $25,000. Basepoint Wealth LLC acquired a new position in shares of iShares Biotechnology ETF during the 4th quarter worth approximately $26,000. Pension & Wealth Management Advisors Inc. bought a new position in shares of iShares Biotechnology ETF during the second quarter worth approximately $28,000. Cary Street Partners Financial LLC bought a new position in shares of iShares Biotechnology ETF during the fourth quarter worth approximately $29,000. Finally, Copia Wealth Management acquired a new stake in shares of iShares Biotechnology ETF in the fourth quarter valued at approximately $34,000. 62.45% of the stock is currently owned by institutional investors and hedge funds.

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.