Hoey Investments Inc. Makes New $70,000 Investment in iShares Biotechnology ETF (NASDAQ:IBB)

Hoey Investments Inc. bought a new position in iShares Biotechnology ETF (NASDAQ:IBB) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 530 shares of the financial services provider’s stock, valued at approximately $70,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Raymond James Financial Inc. bought a new stake in iShares Biotechnology ETF in the fourth quarter worth about $55,010,000. Aprio Wealth Management LLC purchased a new stake in shares of iShares Biotechnology ETF during the 4th quarter worth approximately $18,476,000. Generali Investments CEE investicni spolecnost a.s. bought a new stake in shares of iShares Biotechnology ETF in the 4th quarter worth approximately $11,370,000. Independent Advisor Alliance purchased a new position in iShares Biotechnology ETF in the fourth quarter valued at approximately $6,769,000. Finally, Erste Asset Management GmbH bought a new position in iShares Biotechnology ETF during the third quarter valued at $5,678,000. Hedge funds and other institutional investors own 62.45% of the company’s stock.

iShares Biotechnology ETF Price Performance

Shares of IBB opened at $130.29 on Monday. iShares Biotechnology ETF has a 1 year low of $123.60 and a 1 year high of $150.57. The stock’s fifty day moving average price is $136.16 and its two-hundred day moving average price is $138.87. The firm has a market cap of $6.16 billion, a PE ratio of 27.83 and a beta of 0.84.

iShares Biotechnology ETF Increases Dividend

The business also recently declared a dividend, which was paid on Friday, March 21st. Stockholders of record on Tuesday, March 18th were issued a $0.1212 dividend. This is a positive change from iShares Biotechnology ETF’s previous dividend of $0.06. The ex-dividend date of this dividend was Tuesday, March 18th.

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.