Raymond James Financial Inc. Invests $55.01 Million in iShares Biotechnology ETF (NASDAQ:IBB)

Raymond James Financial Inc. bought a new position in shares of iShares Biotechnology ETF (NASDAQ:IBB) in the 4th quarter, HoldingsChannel reports. The institutional investor bought 416,081 shares of the financial services provider’s stock, valued at approximately $55,010,000.

Several other large investors have also made changes to their positions in IBB. Darwin Wealth Management LLC acquired a new position in iShares Biotechnology ETF in the 3rd quarter valued at $29,000. HHM Wealth Advisors LLC raised its stake in iShares Biotechnology ETF by 200.0% in the 4th quarter. HHM Wealth Advisors LLC now owns 225 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 150 shares during the last quarter. Bradley & Co. Private Wealth Management LLC acquired a new position in iShares Biotechnology ETF in the 4th quarter valued at $32,000. Ashton Thomas Securities LLC acquired a new position in iShares Biotechnology ETF in the 3rd quarter valued at $36,000. Finally, Newbridge Financial Services Group Inc. acquired a new position in iShares Biotechnology ETF in the 4th quarter valued at $33,000. 62.45% of the stock is owned by institutional investors and hedge funds.

iShares Biotechnology ETF Stock Performance

NASDAQ IBB opened at $135.84 on Tuesday. The business has a fifty day moving average price of $136.08 and a 200 day moving average price of $140.22. iShares Biotechnology ETF has a one year low of $123.60 and a one year high of $150.57. The company has a market cap of $6.42 billion, a P/E ratio of 24.52 and a beta of 0.84.

iShares Biotechnology ETF Cuts Dividend

The company also recently disclosed a dividend, which was paid on Friday, December 20th. Investors of record on Tuesday, December 17th were paid a $0.0624 dividend. 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.