Brookstone Capital Management Reduces Holdings in iShares Biotechnology ETF $IBB

Brookstone Capital Management trimmed its stake in iShares Biotechnology ETF (NASDAQ:IBB) by 46.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,449 shares of the financial services provider’s stock after selling 5,586 shares during the quarter. Brookstone Capital Management’s holdings in iShares Biotechnology ETF were worth $1,089,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Citigroup Inc. grew its holdings in iShares Biotechnology ETF by 40.9% in the 4th quarter. Citigroup Inc. now owns 5,242,688 shares of the financial services provider’s stock valued at $884,808,000 after buying an additional 1,521,992 shares during the period. Morgan Stanley grew its holdings in iShares Biotechnology ETF by 2.5% during the 4th quarter. Morgan Stanley now owns 3,204,126 shares of the financial services provider’s stock valued at $540,760,000 after purchasing an additional 76,978 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in shares of iShares Biotechnology ETF by 11.4% in the fourth quarter. BNP Paribas Financial Markets now owns 2,133,461 shares of the financial services provider’s stock worth $360,064,000 after acquiring an additional 218,066 shares in the last quarter. Raymond James Financial Inc. raised its position in shares of iShares Biotechnology ETF by 286.2% in the 4th quarter. Raymond James Financial Inc. now owns 994,311 shares of the financial services provider’s stock valued at $167,810,000 after purchasing an additional 736,881 shares in the last quarter. Finally, LPL Financial LLC grew its holdings in iShares Biotechnology ETF by 145.9% during the 4th quarter. LPL Financial LLC now owns 992,799 shares of the financial services provider’s stock worth $167,555,000 after acquiring an additional 589,033 shares in the last quarter. Institutional investors and hedge funds own 62.45% of the company’s stock.

iShares Biotechnology ETF Stock Performance

Shares of NASDAQ IBB opened at $187.38 on Friday. The stock’s 50 day moving average price is $171.45 and its two-hundred day moving average price is $171.03. iShares Biotechnology ETF has a 52-week low of $125.70 and a 52-week high of $188.69.

iShares Biotechnology ETF Cuts Dividend

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

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.