Primoris Wealth Advisors LLC Invests $1.97 Million in iShares Biotechnology ETF (NASDAQ:IBB)

Primoris Wealth Advisors LLC acquired a new position in iShares Biotechnology ETF (NASDAQ:IBBGet Rating) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 12,907 shares of the financial services provider’s stock, valued at approximately $1,969,000. iShares Biotechnology ETF makes up about 1.6% of Primoris Wealth Advisors LLC’s investment portfolio, making the stock its 25th biggest position.

Several other hedge funds have also made changes to their positions in the company. Future Financial Wealth Managment LLC bought a new stake in iShares Biotechnology ETF during the fourth quarter worth $30,000. Gradient Investments LLC raised its position in iShares Biotechnology ETF by 99.0% during the fourth quarter. Gradient Investments LLC now owns 201 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 100 shares in the last quarter. Herold Advisors Inc. bought a new stake in iShares Biotechnology ETF during the third quarter worth $32,000. Consolidated Planning Corp bought a new stake in iShares Biotechnology ETF during the third quarter worth $32,000. Finally, Steward Financial Group LLC bought a new stake in iShares Biotechnology ETF during the fourth quarter worth $34,000. 65.38% of the stock is currently owned by institutional investors and hedge funds.

Shares of IBB traded down $2.40 during trading hours on Friday, hitting $116.65. The company had a trading volume of 4,313,426 shares, compared to its average volume of 2,439,756. The business has a fifty day moving average of $126.87 and a 200-day moving average of $139.78. iShares Biotechnology ETF has a 12 month low of $115.47 and a 12 month high of $177.37.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 30th. Shareholders of record on Friday, March 25th were given a dividend of $0.118 per share. The ex-dividend date was Thursday, March 24th. This is an increase from iShares Biotechnology ETF’s previous quarterly dividend of $0.04. This represents a $0.47 annualized dividend and a yield of 0.40%.

iShares Biotechnology ETF Profile (Get Rating)

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.

Further Reading

Institutional Ownership by Quarter for iShares Biotechnology ETF (NASDAQ:IBB)

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