iShares Biotechnology ETF (NASDAQ:IBB) Hits New 1-Year Low – Here’s What Happened

iShares Biotechnology ETF (NASDAQ:IBB)’s stock price hit a new 52-week low during trading on Wednesday . The company traded as low as $123.21 and last traded at $125.14, with a volume of 178455 shares changing hands. The stock had previously closed at $124.44.

iShares Biotechnology ETF Trading Up 1.0 %

The stock’s fifty day moving average price is $135.83 and its two-hundred day moving average price is $138.58. The firm has a market capitalization of $5.94 billion, a price-to-earnings ratio of 27.83 and a beta of 0.84.

iShares Biotechnology ETF Increases Dividend

The firm also recently declared a dividend, which was paid on Friday, March 21st. Shareholders of record on Tuesday, March 18th were issued a dividend of $0.1212 per share. This is an increase from iShares Biotechnology ETF’s previous dividend of $0.06. The ex-dividend date of this dividend was Tuesday, March 18th.

Institutional Investors Weigh In On iShares Biotechnology ETF

Several hedge funds and other institutional investors have recently made changes to their positions in the business. FMR LLC lifted its holdings in shares of iShares Biotechnology ETF by 19.2% in the 3rd quarter. FMR LLC now owns 14,450 shares of the financial services provider’s stock valued at $2,104,000 after purchasing an additional 2,332 shares during the last quarter. Townsquare Capital LLC raised its position in iShares Biotechnology ETF by 10.1% during the 3rd quarter. Townsquare Capital LLC now owns 1,683 shares of the financial services provider’s stock worth $245,000 after buying an additional 154 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of iShares Biotechnology ETF in the 3rd quarter worth $2,941,000. Walleye Capital LLC increased its stake in shares of iShares Biotechnology ETF by 82.7% during the third quarter. Walleye Capital LLC now owns 9,018 shares of the financial services provider’s stock worth $1,313,000 after acquiring an additional 4,082 shares during the period. Finally, Erste Asset Management GmbH purchased a new position in iShares Biotechnology ETF during the third quarter worth about $5,678,000. Institutional investors and hedge funds own 62.45% of the company’s stock.

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.