Kovack Advisors Inc. Increases Position in iShares Biotechnology ETF (NASDAQ:IBB)

Kovack Advisors Inc. increased its stake in shares of iShares Biotechnology ETF (NASDAQ:IBB) by 5.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,060 shares of the financial services provider’s stock after buying an additional 104 shares during the quarter. Kovack Advisors Inc.’s holdings in iShares Biotechnology ETF were worth $272,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Darwin Wealth Management LLC purchased a new stake in iShares Biotechnology ETF in the third quarter valued at $29,000. HHM Wealth Advisors LLC boosted its holdings in iShares Biotechnology ETF by 200.0% in the fourth quarter. HHM Wealth Advisors LLC now owns 225 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 150 shares during the last quarter. Bradley & Co. Private Wealth Management LLC purchased a new stake in iShares Biotechnology ETF in the fourth quarter valued at $32,000. Newbridge Financial Services Group Inc. purchased a new stake in iShares Biotechnology ETF in the fourth quarter valued at $33,000. Finally, Hager Investment Management Services LLC purchased a new stake in shares of iShares Biotechnology ETF during the 4th quarter worth about $34,000. 62.45% of the stock is owned by hedge funds and other institutional investors.

iShares Biotechnology ETF Stock Up 1.1 %

IBB stock opened at $137.03 on Friday. The company’s 50-day simple moving average is $135.91 and its 200-day simple moving average is $140.62. iShares Biotechnology ETF has a 52-week low of $123.60 and a 52-week high of $150.57. The firm has a market cap of $6.33 billion, a P/E ratio of 24.52 and a beta of 0.77.

iShares Biotechnology ETF Cuts Dividend

The company also recently announced a dividend, which was paid on Friday, December 20th. Stockholders of record on Tuesday, December 17th were paid a dividend of $0.0624 per share. The ex-dividend date of this dividend was Tuesday, December 17th.

About iShares Biotechnology ETF

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.