SOL Capital Management CO Lowers Position in iShares Biotechnology ETF (NASDAQ:IBB)

SOL Capital Management CO lessened its position in iShares Biotechnology ETF (NASDAQ:IBB) by 9.1% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 31,955 shares of the financial services provider’s stock after selling 3,210 shares during the quarter. SOL Capital Management CO’s holdings in iShares Biotechnology ETF were worth $4,225,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in IBB. Darwin Wealth Management LLC purchased a new position in shares of iShares Biotechnology ETF during the third quarter worth approximately $29,000. Highline Wealth Partners LLC purchased a new stake in shares of iShares Biotechnology ETF in the third quarter valued at about $30,000. Ashton Thomas Securities LLC acquired a new stake in shares of iShares Biotechnology ETF in the 3rd quarter valued at approximately $36,000. Modus Advisors LLC acquired a new position in shares of iShares Biotechnology ETF during the 4th quarter worth $41,000. Finally, Crews Bank & Trust acquired a new stake in shares of iShares Biotechnology ETF during the 4th quarter valued at approximately $44,000. Institutional investors and hedge funds own 62.45% of the company’s stock.

iShares Biotechnology ETF Stock Up 1.0 %

Shares of IBB stock opened at $138.87 on Friday. iShares Biotechnology ETF has a 1 year low of $123.60 and a 1 year high of $150.57. The stock has a fifty day moving average price of $136.35 and a 200 day moving average price of $141.67.

iShares Biotechnology ETF Cuts Dividend

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

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.