iShares Nasdaq Biotechnology Index Fund (NASDAQ:IBB) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $324.91 and last traded at $324.98, with a volume of 688,513 shares traded. The stock had previously closed at $322.92.
Separately, Vetr downgraded shares of iShares Nasdaq Biotechnology Index Fund from a “buy” rating to a “hold” rating and set a $307.00 price objective for the company. in a research report on Monday, June 5th.
The stock has a 50 day moving average price of $307.05 and a 200 day moving average price of $293.56.
The company also recently announced a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Thursday, June 29th were issued a $0.1768 dividend. The ex-dividend date was Tuesday, June 27th. This represents a $0.71 annualized dividend and a yield of 0.22%.
A number of hedge funds and other institutional investors have recently modified their holdings of IBB. Tarbox Group Inc. purchased a new position in shares of iShares Nasdaq Biotechnology Index Fund during the first quarter valued at about $104,000. Sei Investments Co. boosted its position in shares of iShares Nasdaq Biotechnology Index Fund by 297.0% in the first quarter. Sei Investments Co. now owns 401 shares of the financial services provider’s stock valued at $118,000 after buying an additional 300 shares during the period. Bollard Group LLC boosted its position in shares of iShares Nasdaq Biotechnology Index Fund by 0.3% in the second quarter. Bollard Group LLC now owns 392 shares of the financial services provider’s stock valued at $121,000 after buying an additional 1 shares during the period. YorkBridge Wealth Partners LLC boosted its position in shares of iShares Nasdaq Biotechnology Index Fund by 174.8% in the first quarter. YorkBridge Wealth Partners LLC now owns 448 shares of the financial services provider’s stock valued at $134,000 after buying an additional 285 shares during the period. Finally, Founders Capital Management purchased a new position in shares of iShares Nasdaq Biotechnology Index Fund during the first quarter valued at about $150,000. 69.07% of the stock is owned by institutional investors and hedge funds.
COPYRIGHT VIOLATION WARNING: “iShares Nasdaq Biotechnology Index Fund (NASDAQ:IBB) Hits New 1-Year High at $324.91” was posted by StockNewsTimes and is owned by of StockNewsTimes. If you are viewing this report on another site, it was illegally copied and republished in violation of United States and international copyright & trademark legislation. The correct version of this report can be read at https://stocknewstimes.com/2017/07/23/ishares-nasdaq-biotechnology-index-fund-nasdaqibb-hits-new-1-year-high-at-324-91.html.
About iShares Nasdaq Biotechnology Index Fund
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.
Receive News & Ratings for iShares Nasdaq Biotechnology Index Fund Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for iShares Nasdaq Biotechnology Index Fund and related companies with MarketBeat.com's FREE daily email newsletter.
