iShares Biotechnology ETF (NASDAQ:IBB) Shares Sold by Kovack Advisors Inc.

Kovack Advisors Inc. cut its holdings in shares of iShares Biotechnology ETF (NASDAQ:IBB) by 12.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,085 shares of the financial services provider’s stock after selling 294 shares during the period. Kovack Advisors Inc.’s holdings in iShares Biotechnology ETF were worth $283,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Glass Jacobson Investment Advisors llc grew its stake in iShares Biotechnology ETF by 150.6% during the 3rd quarter. Glass Jacobson Investment Advisors llc now owns 203 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 122 shares during the last quarter. Values First Advisors Inc. purchased a new position in iShares Biotechnology ETF during the 4th quarter worth approximately $43,000. Tennessee Valley Asset Management Partners acquired a new position in shares of iShares Biotechnology ETF during the 4th quarter worth approximately $44,000. Horizon Bancorp Inc. IN purchased a new position in shares of iShares Biotechnology ETF during the 3rd quarter valued at approximately $44,000. Finally, Massmutual Trust Co. FSB ADV grew its stake in iShares Biotechnology ETF by 164.2% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 362 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 225 shares during the period. Hedge funds and other institutional investors own 62.45% of the company’s stock.

iShares Biotechnology ETF Stock Up 1.5 %

IBB opened at $128.37 on Tuesday. The firm’s fifty day simple moving average is $134.12 and its two-hundred day simple moving average is $129.88. iShares Biotechnology ETF has a 52-week low of $111.83 and a 52-week high of $141.16.

iShares Biotechnology ETF Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Friday, March 22nd were issued a $0.126 dividend. This represents a $0.50 annualized dividend and a yield of 0.39%. The ex-dividend date was Thursday, March 21st.

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.