Florin Court Capital LLP Makes New Investment in iShares Biotechnology ETF $IBB

Florin Court Capital LLP acquired a new stake in iShares Biotechnology ETF (NASDAQ:IBB) during the third quarter, HoldingsChannel reports. The firm acquired 77,000 shares of the financial services provider’s stock, valued at approximately $11,116,000. iShares Biotechnology ETF comprises about 8.7% of Florin Court Capital LLP’s investment portfolio, making the stock its 2nd largest holding.

Several other institutional investors have also recently added to or reduced their stakes in the business. Pines Wealth Management LLC increased its stake in iShares Biotechnology ETF by 7.2% in the third quarter. Pines Wealth Management LLC now owns 3,257 shares of the financial services provider’s stock valued at $470,000 after purchasing an additional 218 shares during the last quarter. Belpointe Asset Management LLC grew its position in shares of iShares Biotechnology ETF by 83.6% in the 3rd quarter. Belpointe Asset Management LLC now owns 12,789 shares of the financial services provider’s stock valued at $1,846,000 after buying an additional 5,825 shares during the last quarter. Kornitzer Capital Management Inc. KS acquired a new stake in iShares Biotechnology ETF during the 3rd quarter worth $884,000. Investment House LLC lifted its position in iShares Biotechnology ETF by 4.1% in the third quarter. Investment House LLC now owns 98,821 shares of the financial services provider’s stock valued at $14,267,000 after acquiring an additional 3,873 shares during the last quarter. Finally, Kanawha Capital Management LLC lifted its position in iShares Biotechnology ETF by 0.9% in the third quarter. Kanawha Capital Management LLC now owns 8,845 shares of the financial services provider’s stock valued at $1,277,000 after acquiring an additional 78 shares during the last quarter. Hedge funds and other institutional investors own 62.45% of the company’s stock.

iShares Biotechnology ETF Stock Up 0.6%

Shares of IBB stock opened at $176.90 on Wednesday. The stock’s 50-day moving average is $170.97 and its two-hundred day moving average is $153.86. 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 disclosed a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Tuesday, December 16th were issued a $0.1831 dividend. The ex-dividend date of this dividend 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 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.