Grassi Investment Management Decreases Stake in iShares Biotechnology ETF (NASDAQ:IBB)

Grassi Investment Management reduced its holdings in iShares Biotechnology ETF (NASDAQ:IBB) by 6.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,259 shares of the financial services provider’s stock after selling 450 shares during the period. Grassi Investment Management’s holdings in iShares Biotechnology ETF were worth $911,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of IBB. BNP Paribas Financial Markets increased its position in iShares Biotechnology ETF by 25.7% during the first quarter. BNP Paribas Financial Markets now owns 2,055,373 shares of the financial services provider’s stock worth $282,038,000 after purchasing an additional 420,053 shares during the last quarter. Jane Street Group LLC acquired a new stake in iShares Biotechnology ETF during the first quarter worth about $14,386,000. Cetera Investment Advisers increased its position in iShares Biotechnology ETF by 689.4% during the first quarter. Cetera Investment Advisers now owns 91,078 shares of the financial services provider’s stock worth $12,498,000 after purchasing an additional 79,541 shares during the last quarter. State of Michigan Retirement System increased its position in iShares Biotechnology ETF by 150.0% during the second quarter. State of Michigan Retirement System now owns 125,000 shares of the financial services provider’s stock worth $17,158,000 after purchasing an additional 75,000 shares during the last quarter. Finally, Aristides Capital LLC acquired a new stake in iShares Biotechnology ETF during the second quarter worth about $9,180,000. 62.45% of the stock is owned by hedge funds and other institutional investors.

iShares Biotechnology ETF Stock Performance

iShares Biotechnology ETF stock opened at $142.16 on Thursday. iShares Biotechnology ETF has a 12-month low of $111.83 and a 12-month high of $150.57. The company has a 50-day moving average price of $145.69 and a 200 day moving average price of $139.92.

iShares Biotechnology ETF Announces Dividend

The business also recently declared a dividend, which was paid on Monday, September 30th. Shareholders of record on Wednesday, September 25th were given a dividend of $0.2005 per share. The ex-dividend date of this dividend was Wednesday, September 25th.

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.