Cumberland Advisors Inc. Trims Position in iShares Biotechnology ETF (NASDAQ:IBB)

Posted by Jim Brewer on Oct 17th, 2024

Cumberland Advisors Inc. lowered its stake in iShares Biotechnology ETF (NASDAQ:IBB – Free Report) by 4.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 76,953 shares of the financial services provider’s stock after selling 3,270 shares during the period. iShares Biotechnology ETF makes up approximately 4.5% of Cumberland Advisors Inc.’s investment portfolio, making the stock its 6th biggest position. Cumberland Advisors Inc. owned 0.15% of iShares Biotechnology ETF worth $11,204,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Future Financial Wealth Managment LLC purchased a new stake in shares of iShares Biotechnology ETF in the first quarter valued at approximately $27,000. Bbjs Financial Advisors LLC purchased a new stake in shares of iShares Biotechnology ETF in the second quarter valued at approximately $31,000. Pacifica Partners Inc. boosted its holdings in shares of iShares Biotechnology ETF by 118.2% in the first quarter. Pacifica Partners Inc. now owns 240 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 130 shares during the period. Mather Group LLC. purchased a new stake in shares of iShares Biotechnology ETF in the first quarter valued at approximately $57,000. Finally, Chris Bulman Inc bought a new position in iShares Biotechnology ETF in the second quarter worth approximately $64,000. Hedge funds and other institutional investors own 62.45% of the company’s stock.

iShares Biotechnology ETF Stock Performance

NASDAQ:IBB traded down $0.08 during trading hours on Thursday, reaching $146.32. The company’s stock had a trading volume of 259,547 shares, compared to its average volume of 1,468,641. iShares Biotechnology ETF has a 12 month low of $111.83 and a 12 month high of $150.57. The stock has a 50 day moving average price of $145.50 and a two-hundred day moving average price of $139.54.

iShares Biotechnology ETF Dividend Announcement

The firm also recently disclosed a dividend, which was paid on Monday, September 30th. Investors of record on Wednesday, September 25th were paid a $0.2005 dividend. The ex-dividend date of this dividend was Wednesday, September 25th.

iShares Biotechnology ETF Profile

(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.