Stock Traders Buy High Volume of iShares Biotechnology ETF Put Options (NASDAQ:IBB)

iShares Biotechnology ETF (NASDAQ:IBB) saw some unusual options trading on Thursday. Investors purchased 2,927 put options on the stock. This is an increase of approximately 110% compared to the typical daily volume of 1,392 put options.

Institutional Trading of iShares Biotechnology ETF

Several institutional investors and hedge funds have recently made changes to their positions in IBB. Elm3 Financial Group LLC boosted its holdings in iShares Biotechnology ETF by 46.5% during the third quarter. Elm3 Financial Group LLC now owns 1,949 shares of the financial services provider’s stock worth $410,000 after purchasing an additional 619 shares during the last quarter. Congress Asset Management Co. purchased a new stake in iShares Biotechnology ETF in the 3rd quarter valued at about $1,314,000. Neville Rodie & Shaw Inc. lifted its position in shares of iShares Biotechnology ETF by 0.6% during the 3rd quarter. Neville Rodie & Shaw Inc. now owns 42,235 shares of the financial services provider’s stock worth $8,892,000 after buying an additional 233 shares in the last quarter. Security National Bank of Sioux City Iowa IA lifted its position in shares of iShares Biotechnology ETF by 31.8% during the 2nd quarter. Security National Bank of Sioux City Iowa IA now owns 12,187 shares of the financial services provider’s stock worth $2,318,000 after buying an additional 2,939 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of iShares Biotechnology ETF by 64.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 101,838 shares of the financial services provider’s stock worth $19,369,000 after buying an additional 39,760 shares during the last quarter. Hedge funds and other institutional investors own 62.45% of the company’s stock.

iShares Biotechnology ETF Trading Down 2.9%

iShares Biotechnology ETF stock traded down $5.90 during trading on Thursday, hitting $197.44. 243,789 shares of the company were exchanged, compared to its average volume of 1,631,655. The business’s 50 day moving average is $205.19 and its 200 day moving average is $186.05. iShares Biotechnology ETF has a 52 week low of $149.09 and a 52 week high of $217.12.

iShares Biotechnology ETF Cuts Dividend

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

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.