iShares Biotechnology ETF (NASDAQ:IBB) Reaches New 12-Month High – Time to Buy?

Shares of iShares Biotechnology ETF (NASDAQ:IBB) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $189.11 and last traded at $187.47, with a volume of 357942 shares. The stock had previously closed at $187.36.

iShares Biotechnology ETF Stock Up 0.3%

The business has a fifty day moving average price of $171.45 and a 200-day moving average price of $171.04.

iShares Biotechnology ETF Cuts Dividend

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

Institutional Investors Weigh In On iShares Biotechnology ETF

A number of hedge funds have recently made changes to their positions in the business. Darwin Wealth Management LLC purchased a new position in iShares Biotechnology ETF in the 2nd quarter worth $25,000. Basepoint Wealth LLC purchased a new stake in iShares Biotechnology ETF during the fourth quarter valued at about $26,000. Cary Street Partners Financial LLC purchased a new stake in iShares Biotechnology ETF during the fourth quarter valued at about $29,000. Copia Wealth Management bought a new position in shares of iShares Biotechnology ETF during the fourth quarter valued at about $34,000. Finally, Caitlin John LLC purchased a new position in shares of iShares Biotechnology ETF in the fourth quarter worth about $34,000. 62.45% of the stock is currently owned by institutional investors.

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.