Brookstone Capital Management Sells 8,520 Shares of iShares Biotechnology ETF $IBB

Brookstone Capital Management lessened its position in shares of iShares Biotechnology ETF (NASDAQ:IBB) by 57.5% in the third quarter, HoldingsChannel.com reports. The firm owned 6,300 shares of the financial services provider’s stock after selling 8,520 shares during the quarter. Brookstone Capital Management’s holdings in iShares Biotechnology ETF were worth $910,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bronte Capital Management Pty Ltd. increased its stake in shares of iShares Biotechnology ETF by 12.6% in the 2nd quarter. Bronte Capital Management Pty Ltd. now owns 295,346 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 32,947 shares in the last quarter. Employees Retirement System of Texas acquired a new stake in iShares Biotechnology ETF in the second quarter worth $25,049,000. Atlantic Union Bankshares Corp bought a new stake in iShares Biotechnology ETF in the second quarter valued at $2,219,000. KFG Wealth Management LLC increased its stake in iShares Biotechnology ETF by 4.8% in the second quarter. KFG Wealth Management LLC now owns 2,444 shares of the financial services provider’s stock valued at $309,000 after purchasing an additional 112 shares in the last quarter. Finally, Telos Capital Management Inc. raised its holdings in shares of iShares Biotechnology ETF by 4.0% during the second quarter. Telos Capital Management Inc. now owns 11,336 shares of the financial services provider’s stock valued at $1,434,000 after purchasing an additional 436 shares during the period. Institutional investors and hedge funds own 62.45% of the company’s stock.

iShares Biotechnology ETF Price Performance

IBB stock opened at $170.76 on Tuesday. The company’s 50-day moving average is $165.59 and its 200-day moving average is $147.36. iShares Biotechnology ETF has a 1 year low of $107.43 and a 1 year high of $174.40.

iShares Biotechnology ETF Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Tuesday, December 16th were issued a $0.1831 dividend. The ex-dividend date was Tuesday, December 16th. This is an increase from iShares Biotechnology ETF’s previous quarterly dividend of $0.08. This represents a $0.73 annualized dividend and a yield of 0.4%.

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.