Independent Advisor Alliance Invests $6.77 Million in iShares Biotechnology ETF (NASDAQ:IBB)

Independent Advisor Alliance acquired a new position in iShares Biotechnology ETF (NASDAQ:IBB) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 51,196 shares of the financial services provider’s stock, valued at approximately $6,769,000. Independent Advisor Alliance owned 0.11% of iShares Biotechnology ETF as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Darwin Wealth Management LLC bought a new position in shares of iShares Biotechnology ETF in the third quarter worth about $29,000. HHM Wealth Advisors LLC raised its stake in shares of iShares Biotechnology ETF by 200.0% in the fourth quarter. HHM Wealth Advisors LLC now owns 225 shares of the financial services provider’s stock worth $30,000 after buying an additional 150 shares during the period. Bradley & Co. Private Wealth Management LLC bought a new position in shares of iShares Biotechnology ETF in the fourth quarter worth about $32,000. Ashton Thomas Securities LLC bought a new position in shares of iShares Biotechnology ETF in the third quarter worth about $36,000. Finally, Newbridge Financial Services Group Inc. bought a new position in shares of iShares Biotechnology ETF in the fourth quarter worth about $33,000. Institutional investors own 62.45% of the company’s stock.

iShares Biotechnology ETF Trading Down 0.8 %

NASDAQ:IBB opened at $135.84 on Tuesday. iShares Biotechnology ETF has a 12-month low of $123.60 and a 12-month high of $150.57. The stock has a 50-day moving average price of $136.08 and a 200 day moving average price of $140.22. The stock has a market capitalization of $6.42 billion, a P/E ratio of 24.52 and a beta of 0.84.

iShares Biotechnology ETF Cuts Dividend

The firm also recently announced a dividend, which was paid on Friday, December 20th. Investors of record on Tuesday, December 17th were given a dividend of $0.0624 per share. The ex-dividend date was Tuesday, December 17th.

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.