Garrison Point Advisors LLC Lowers Holdings in iShares Biotechnology ETF (NASDAQ:IBB)

Garrison Point Advisors LLC cut its holdings in iShares Biotechnology ETF (NASDAQ:IBB) by 0.9% during the 4th quarter, HoldingsChannel.com reports. The fund owned 10,418 shares of the financial services provider’s stock after selling 92 shares during the period. Garrison Point Advisors LLC’s holdings in iShares Biotechnology ETF were worth $1,377,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Main Management ETF Advisors LLC grew its position in shares of iShares Biotechnology ETF by 2.5% during the third quarter. Main Management ETF Advisors LLC now owns 593,370 shares of the financial services provider’s stock worth $86,395,000 after purchasing an additional 14,535 shares in the last quarter. Raymond James Financial Inc. bought a new stake in iShares Biotechnology ETF in the fourth quarter worth $55,010,000. Gray Foundation boosted its stake in shares of iShares Biotechnology ETF by 25.2% during the 4th quarter. Gray Foundation now owns 164,872 shares of the financial services provider’s stock worth $21,798,000 after purchasing an additional 33,179 shares during the period. Aprio Wealth Management LLC purchased a new position in shares of iShares Biotechnology ETF during the fourth quarter valued at approximately $18,476,000. Finally, Avalon Trust Co boosted its stake in shares of iShares Biotechnology ETF by 0.7% during the fourth quarter. Avalon Trust Co now owns 127,893 shares of the financial services provider’s stock valued at $16,909,000 after purchasing an additional 935 shares during the period. Hedge funds and other institutional investors own 62.45% of the company’s stock.

iShares Biotechnology ETF Stock Performance

Shares of NASDAQ IBB opened at $117.16 on Friday. iShares Biotechnology ETF has a 52-week low of $117.02 and a 52-week high of $150.57. The stock has a 50 day moving average price of $134.95 and a 200 day moving average price of $138.11. The firm has a market capitalization of $5.27 billion, a price-to-earnings ratio of 24.21 and a beta of 0.82.

iShares Biotechnology ETF Increases Dividend

The company also recently announced a dividend, which was paid on Friday, March 21st. Shareholders of record on Tuesday, March 18th were issued a $0.1212 dividend. The ex-dividend date of this dividend was Tuesday, March 18th. This is an increase from iShares Biotechnology ETF’s previous dividend of $0.06.

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.