Envestnet Asset Management Inc. Decreases Stake in iShares Biotechnology ETF $IBB

Envestnet Asset Management Inc. cut its stake in shares of iShares Biotechnology ETF (NASDAQ:IBB) by 10.2% during the third quarter, HoldingsChannel.com reports. The firm owned 50,384 shares of the financial services provider’s stock after selling 5,695 shares during the period. Envestnet Asset Management Inc.’s holdings in iShares Biotechnology ETF were worth $7,274,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Citigroup Inc. boosted its holdings in iShares Biotechnology ETF by 27.0% during the second quarter. Citigroup Inc. now owns 4,073,967 shares of the financial services provider’s stock worth $515,398,000 after buying an additional 865,823 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of iShares Biotechnology ETF by 74.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 833,196 shares of the financial services provider’s stock valued at $105,408,000 after acquiring an additional 355,000 shares during the period. Employees Retirement System of Texas purchased a new stake in shares of iShares Biotechnology ETF during the 2nd quarter worth approximately $25,049,000. Millennium Management LLC boosted its stake in shares of iShares Biotechnology ETF by 140.8% during the 1st quarter. Millennium Management LLC now owns 41,676 shares of the financial services provider’s stock worth $5,330,000 after acquiring an additional 143,893 shares in the last quarter. Finally, Florin Court Capital LLP acquired a new stake in shares of iShares Biotechnology ETF in the 3rd quarter worth approximately $11,116,000. Hedge funds and other institutional investors own 62.45% of the company’s stock.

iShares Biotechnology ETF Stock Down 0.4%

Shares of IBB stock opened at $174.39 on Friday. The stock has a fifty day moving average price of $172.18 and a 200 day moving average price of $158.64. iShares Biotechnology ETF has a 1 year low of $107.43 and a 1 year high of $179.64.

iShares Biotechnology ETF Increases Dividend

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

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.