Sovereign Financial Group Inc. Has $659,000 Stake in iShares Biotechnology ETF (NASDAQ:IBB)

Sovereign Financial Group Inc. trimmed its holdings in shares of iShares Biotechnology ETF (NASDAQ:IBB) by 12.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 4,988 shares of the financial services provider’s stock after selling 723 shares during the quarter. Sovereign Financial Group Inc.’s holdings in iShares Biotechnology ETF were worth $659,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Oppenheimer Asset Management Inc. lifted its stake in iShares Biotechnology ETF by 9.6% in the second quarter. Oppenheimer Asset Management Inc. now owns 24,424 shares of the financial services provider’s stock valued at $3,352,000 after buying an additional 2,141 shares during the period. One Capital Management LLC bought a new stake in shares of iShares Biotechnology ETF in the 2nd quarter valued at about $400,000. Edgestream Partners L.P. raised its position in shares of iShares Biotechnology ETF by 18.6% in the 2nd quarter. Edgestream Partners L.P. now owns 3,772 shares of the financial services provider’s stock valued at $518,000 after acquiring an additional 591 shares during the period. Perennial Investment Advisors LLC bought a new position in iShares Biotechnology ETF during the 2nd quarter worth approximately $216,000. Finally, Bradley Foster & Sargent Inc. CT grew its holdings in iShares Biotechnology ETF by 4.8% during the second quarter. Bradley Foster & Sargent Inc. CT now owns 10,792 shares of the financial services provider’s stock valued at $1,481,000 after purchasing an additional 492 shares during the period. 62.45% of the stock is currently owned by institutional investors and hedge funds.

iShares Biotechnology ETF Trading Down 1.8 %

IBB opened at $131.57 on Wednesday. The firm’s fifty day moving average is $137.78 and its two-hundred day moving average is $141.97. iShares Biotechnology ETF has a twelve month low of $123.60 and a twelve month high of $150.57.

iShares Biotechnology ETF Cuts Dividend

The firm also recently disclosed a dividend, which was paid on Friday, December 20th. Investors of record on Tuesday, December 17th were paid 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.