Providence First Trust Co Buys 3,449 Shares of iShares Biotechnology ETF $IBB

Providence First Trust Co bought a new stake in iShares Biotechnology ETF (NASDAQ:IBB) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 3,449 shares of the financial services provider’s stock, valued at approximately $726,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bank of America Corp DE increased its stake in iShares Biotechnology ETF by 10.8% during the first quarter. Bank of America Corp DE now owns 7,259,501 shares of the financial services provider’s stock worth $1,225,767,000 after acquiring an additional 707,343 shares during the last quarter. Royal Bank of Canada raised its holdings in shares of iShares Biotechnology ETF by 1.0% in the 1st quarter. Royal Bank of Canada now owns 737,128 shares of the financial services provider’s stock worth $124,464,000 after purchasing an additional 7,434 shares during the period. Commonwealth Equity Services LLC lifted its stake in shares of iShares Biotechnology ETF by 1.3% in the 3rd quarter. Commonwealth Equity Services LLC now owns 139,653 shares of the financial services provider’s stock valued at $29,401,000 after purchasing an additional 1,819 shares in the last quarter. Albion Financial Group UT lifted its stake in shares of iShares Biotechnology ETF by 1.0% in the 3rd quarter. Albion Financial Group UT now owns 120,782 shares of the financial services provider’s stock valued at $25,428,000 after purchasing an additional 1,147 shares in the last quarter. Finally, Cetera Investment Advisers lifted its stake in shares of iShares Biotechnology ETF by 9.4% in the 1st quarter. Cetera Investment Advisers now owns 128,530 shares of the financial services provider’s stock valued at $21,702,000 after purchasing an additional 10,994 shares in the last quarter. Institutional investors and hedge funds own 62.45% of the company’s stock.

iShares Biotechnology ETF Stock Up 1.7%

Shares of NASDAQ:IBB traded up $3.64 during trading on Friday, reaching $213.63. 2,163,900 shares of the stock were exchanged, compared to its average volume of 1,851,928. iShares Biotechnology ETF has a 12-month low of $154.98 and a 12-month high of $222.29. The firm’s 50-day moving average price is $208.46 and its 200 day moving average price is $185.91.

iShares Biotechnology ETF Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 18th. Investors of record on Tuesday, September 15th were issued a $0.0112 dividend. The ex-dividend date was Tuesday, September 15th. This is a negative change from iShares Biotechnology ETF’s previous quarterly dividend of $0.0238. This represents a $0.04 annualized dividend and a yield of 0.0%.

iShares Biotechnology ETF 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.