Benjamin Edwards Inc. Invests in iShares Biotechnology ETF (NASDAQ:IBB)

On December 11, 2024, it was reported that Benjamin Edwards Inc. has acquired a new investment in the iShares Biotechnology ETF (NASDAQ: IBB) during the third quarter of the year. The firm purchased 1,679 shares of this exchange-traded fund, with an estimated value of around $244,000.

In addition to Benjamin Edwards, several other institutional investors have also adjusted their positions in the iShares Biotechnology ETF (IBB). Notably, BNP Paribas Financial Markets increased its ownership by 29.3% during the third quarter, bringing its total holdings to 2,380,229 shares, worth approximately $346.56 million after acquiring an additional 538,899 shares in that period. Likewise, Commerce Bank raised its stake by 1.8%, now holding 743,366 shares valued at about $108.23 million after increasing its shares by 12,921 in the last quarter.

Furthermore, the Healthcare of Ontario Pension Plan Trust Fund expanded its investment in IBB by 32.9%, increasing its total to 663,000 shares worth around $96.53 million following the purchase of 164,000 additional shares. Main Management ETF Advisors LLC also saw growth in its ownership, up by 2.6% in the second quarter, bringing its holdings to 578,835 shares valued at $79.45 million. Lastly, Raymond James Financial Services Advisors Inc. raised its position by 24.6% in the second quarter, now owning 217,047 shares worth about $29.79 million. Overall, institutional investors hold approximately 62.45% of the shares in this ETF.

Current Stock Performance

As of Wednesday, the iShares Biotechnology ETF is trading down 0.8%, opening at $140.56. Over the past year, the ETF has experienced a low of $123.56 and a high of $150.57. Its fifty-day moving average stands at $142.18, while the two-hundred-day moving average is $142.29.

Dividend Update

The iShares Biotechnology ETF has also announced a dividend recently, which was paid on September 30, 2024. Shareholders of record as of September 25 were issued a dividend of $0.2005 per share. The ex-dividend date was the same as the record date, September 25.

About iShares Biotechnology ETF

The iShares Nasdaq Biotechnology ETF is an exchange-traded fund designed to mirror the performance of the NASDAQ Biotechnology Index. This index consists of securities from companies classified as either biotechnology or pharmaceuticals listed on NASDAQ and meets eligibility criteria determined by the exchange.

investment, ETFs, biotechnology