Westwood Wealth Management Reduces Stock Position in iShares Biotechnology ETF (NASDAQ:IBB)

Westwood Wealth Management decreased its position in iShares Biotechnology ETF (NASDAQ:IBB) by 5.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,740 shares of the financial services provider’s stock after selling 760 shares during the quarter. iShares Biotechnology ETF makes up 0.7% of Westwood Wealth Management’s investment portfolio, making the stock its 19th largest position. Westwood Wealth Management’s holdings in iShares Biotechnology ETF were worth $1,817,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of IBB. Main Management ETF Advisors LLC lifted its holdings in iShares Biotechnology ETF by 2.5% in the 3rd quarter. Main Management ETF Advisors LLC now owns 593,370 shares of the financial services provider’s stock worth $86,395,000 after buying an additional 14,535 shares during the period. Raymond James Financial Inc. purchased a new stake in iShares Biotechnology ETF in the fourth quarter worth $55,010,000. Gray Foundation increased its position in iShares Biotechnology ETF by 25.2% during the 4th quarter. Gray Foundation now owns 164,872 shares of the financial services provider’s stock valued at $21,798,000 after purchasing an additional 33,179 shares during the period. Aprio Wealth Management LLC purchased a new position in iShares Biotechnology ETF during the 4th quarter valued at $18,476,000. Finally, Avalon Trust Co raised its holdings in iShares Biotechnology ETF by 0.7% in the 4th quarter. Avalon Trust Co now owns 127,893 shares of the financial services provider’s stock worth $16,909,000 after purchasing an additional 935 shares in the last quarter. 62.45% of the stock is currently owned by hedge funds and other institutional investors.

iShares Biotechnology ETF Trading Down 5.4 %

Shares of IBB opened at $117.16 on Friday. iShares Biotechnology ETF has a 1-year low of $117.02 and a 1-year high of $150.57. The firm’s 50-day moving average price is $134.95 and its 200-day moving average price is $138.11. The firm has a market capitalization of $5.27 billion, a price-to-earnings ratio of 24.21 and a beta of 0.82.

iShares Biotechnology ETF Increases Dividend

The company also recently announced a dividend, which was paid on Friday, March 21st. Shareholders of record on Tuesday, March 18th were issued a dividend of $0.1212 per share. This is an increase from iShares Biotechnology ETF’s previous dividend of $0.06. The ex-dividend date of this dividend was Tuesday, March 18th.

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.