iShares Biotechnology ETF (NASDAQ:IBB) Reaches New 52-Week High – Should You Buy?

by · The Markets Daily

iShares Biotechnology ETF (NASDAQ:IBB – Get Free Report) shares hit a new 52-week high on Monday . The company traded as high as $196.03 and last traded at $196.03, with a volume of 7850 shares trading hands. The stock had previously closed at $195.70.

iShares Biotechnology ETF Stock Down 0.4%

The stock has a 50 day moving average price of $173.18 and a 200-day moving average price of $171.86.

iShares Biotechnology ETF Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Monday, June 15th were issued a $0.0238 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $0.10 dividend on an annualized basis and a yield of 0.0%.

Institutional Investors Weigh In On iShares Biotechnology ETF

A number of large investors have recently made changes to their positions in IBB. Darwin Wealth Management LLC purchased a new stake in shares of iShares Biotechnology ETF during the 2nd quarter valued at about $25,000. Basepoint Wealth LLC bought a new position in shares of iShares Biotechnology ETF in the 4th quarter worth approximately $26,000. Cary Street Partners Financial LLC purchased a new position in shares of iShares Biotechnology ETF in the fourth quarter worth approximately $29,000. Copia Wealth Management purchased a new position in shares of iShares Biotechnology ETF in the fourth quarter worth approximately $34,000. Finally, Caitlin John LLC bought a new stake in iShares Biotechnology ETF during the fourth quarter valued at approximately $34,000. 62.45% of the stock is currently owned by institutional investors.

About iShares Biotechnology ETF

(Get Free Report)

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.

See Also