Ping Capital Management Inc. Lowers Holdings in iShares Biotechnology ETF (NASDAQ:IBB)

Ping Capital Management Inc. lowered its position in shares of iShares Biotechnology ETF (NASDAQ:IBB) by 65.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,000 shares of the financial services provider’s stock after selling 13,100 shares during the period. iShares Biotechnology ETF comprises approximately 0.2% of Ping Capital Management Inc.’s holdings, making the stock its 28th largest holding. Ping Capital Management Inc.’s holdings in iShares Biotechnology ETF were worth $925,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in IBB. SPC Financial Inc. raised its holdings in iShares Biotechnology ETF by 2.4% in the third quarter. SPC Financial Inc. now owns 3,265 shares of the financial services provider’s stock worth $475,000 after purchasing an additional 75 shares in the last quarter. Werba Rubin Papier Wealth Management lifted its position in iShares Biotechnology ETF by 2.7% during the third quarter. Werba Rubin Papier Wealth Management now owns 2,918 shares of the financial services provider’s stock valued at $425,000 after acquiring an additional 76 shares during the last quarter. Chicago Partners Investment Group LLC boosted its stake in iShares Biotechnology ETF by 2.5% in the fourth quarter. Chicago Partners Investment Group LLC now owns 3,783 shares of the financial services provider’s stock valued at $510,000 after acquiring an additional 94 shares in the last quarter. Capital Investment Advisors LLC grew its holdings in iShares Biotechnology ETF by 1.0% in the fourth quarter. Capital Investment Advisors LLC now owns 10,449 shares of the financial services provider’s stock worth $1,381,000 after purchasing an additional 99 shares during the last quarter. Finally, Magnus Financial Group LLC boosted its position in shares of iShares Biotechnology ETF by 0.8% in the 4th quarter. Magnus Financial Group LLC now owns 12,967 shares of the financial services provider’s stock worth $1,714,000 after purchasing an additional 104 shares in the last quarter. 62.45% of the stock is currently owned by institutional investors.

iShares Biotechnology ETF Price Performance

NASDAQ:IBB opened at $138.81 on Wednesday. iShares Biotechnology ETF has a twelve month low of $123.60 and a twelve month high of $150.57. The company’s 50 day moving average is $136.30 and its two-hundred day moving average is $141.47.

iShares Biotechnology ETF Cuts Dividend

The firm also recently declared 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 of this dividend was Tuesday, December 17th.

iShares Biotechnology ETF Company Profile

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.