Beacon Investment Advisory Services Inc. Cuts Stake in iShares Biotechnology ETF (NASDAQ:IBB)

Beacon Investment Advisory Services Inc. reduced its stake in iShares Biotechnology ETF (NASDAQ:IBB) by 11.3% during the third quarter, Holdings Channel.com reports. The institutional investor owned 2,350 shares of the financial services provider’s stock after selling 300 shares during the period. Beacon Investment Advisory Services Inc.’s holdings in iShares Biotechnology ETF were worth $342,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in IBB. BNP Paribas Financial Markets boosted its holdings in shares of iShares Biotechnology ETF by 29.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,380,229 shares of the financial services provider’s stock worth $346,561,000 after buying an additional 538,899 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of iShares Biotechnology ETF by 32.9% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 663,000 shares of the financial services provider’s stock worth $96,533,000 after buying an additional 164,000 shares during the last quarter. Cetera Investment Advisers boosted its holdings in shares of iShares Biotechnology ETF by 689.4% in the 1st quarter. Cetera Investment Advisers now owns 91,078 shares of the financial services provider’s stock worth $12,498,000 after buying an additional 79,541 shares during the last quarter. State of Michigan Retirement System boosted its holdings in shares of iShares Biotechnology ETF by 150.0% in the 2nd quarter. State of Michigan Retirement System now owns 125,000 shares of the financial services provider’s stock worth $17,158,000 after buying an additional 75,000 shares during the last quarter. Finally, Aristides Capital LLC purchased a new position in shares of iShares Biotechnology ETF in the 2nd quarter worth about $9,180,000. 62.45% of the stock is owned by hedge funds and other institutional investors.

iShares Biotechnology ETF Price Performance

Shares of NASDAQ:IBB opened at $141.73 on Tuesday. iShares Biotechnology ETF has a fifty-two week low of $121.84 and a fifty-two week high of $150.57. The company’s 50-day moving average is $142.71 and its 200 day moving average is $142.09.

iShares Biotechnology ETF Announces Dividend

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

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.