iShares Biotechnology ETF (NASDAQ:IBB) Reaches New 12-Month High – What’s Next?

iShares Biotechnology ETF (NASDAQ:IBB) reached a new 52-week high on Tuesday . The company traded as high as $217.12 and last traded at $216.42, with a volume of 706057 shares. The stock had previously closed at $212.53.

iShares Biotechnology ETF Trading Up 1.9%

The business has a 50-day simple moving average of $191.75 and a 200-day simple moving average of $177.76.

iShares Biotechnology ETF Cuts Dividend

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

Institutional Investors Weigh In On iShares Biotechnology ETF

Several institutional investors have recently bought and sold shares of IBB. Carter Financial Group INC. raised its holdings in shares of iShares Biotechnology ETF by 2.2% during the second quarter. Carter Financial Group INC. now owns 2,423 shares of the financial services provider’s stock valued at $461,000 after acquiring an additional 53 shares during the last quarter. Dynamic Wealth Strategies LLC increased its holdings in shares of iShares Biotechnology ETF by 16.6% in the fourth quarter. Dynamic Wealth Strategies LLC now owns 422 shares of the financial services provider’s stock valued at $71,000 after purchasing an additional 60 shares during the last quarter. Flagship Private Wealth LLC raised its holdings in shares of iShares Biotechnology ETF by 2.0% during the 4th quarter. Flagship Private Wealth LLC now owns 3,084 shares of the financial services provider’s stock worth $521,000 after acquiring an additional 60 shares during the period. Larson Financial Group LLC raised its stake in iShares Biotechnology ETF by 2.3% during the fourth quarter. Larson Financial Group LLC now owns 2,717 shares of the financial services provider’s stock worth $458,000 after purchasing an additional 60 shares during the period. Finally, Parallel Advisors LLC grew its position in iShares Biotechnology ETF by 8.8% in the first quarter. Parallel Advisors LLC now owns 744 shares of the financial services provider’s stock worth $126,000 after acquiring an additional 60 shares during the period. 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.