Spire Wealth Management Increases Investment in iShares Biotechnology ETF

Spire Wealth Management has made a notable move by increasing its stake in iShares Biotechnology ETF (NASDAQ:IBB) by 65.9% in the fourth quarter. According to a recent filing with the Securities and Exchange Commission, the firm now holds 4,274 shares of IBB after acquiring an additional 1,698 shares during this period. As of the latest filing, Spire Wealth Management's holdings in the ETF were valued at approximately $565,000.

In addition to Spire Wealth Management, several other institutional investors and hedge funds have also adjusted their positions in IBB. For instance, SPC Financial Inc. raised its holdings in iShares Biotechnology ETF by 2.4% in the previous quarter, bringing its total to 3,265 shares worth around $475,000 after purchasing an additional 75 shares. Similarly, Werba Rubin Papier Wealth Management increased its stake by 2.7% in the same quarter, owning 2,918 shares valued at $425,000 after buying 76 more shares.

Moreover, Chicago Partners Investment Group LLC amplified its holdings by 2.5% in the fourth quarter, now owning 3,783 shares worth approximately $510,000 after acquiring an additional 94 shares. Capital Investment Advisors LLC also raised its position by 1.0% during the fourth quarter, resulting in 10,449 shares valued at $1,381,000 after purchasing 99 more shares. Lastly, Magnus Financial Group LLC increased its stake by 0.8%, acquiring an additional 104 shares to own a total of 12,967 shares worth around $1,714,000. Notably, institutional investors collectively own about 62.45% of the shares in the ETF.

iShares Biotechnology ETF Price Performance

As of Thursday, IBB opened at a price of $142.33. The ETF has a fifty-day simple moving average of $136.31 and a two-hundred-day simple moving average of $141.47. Over the past year, the ETF has seen a low of $123.60 and a high of $150.57, indicating fluctuations in its market performance.

iShares Biotechnology ETF Cuts Dividend

Recently, iShares Biotechnology ETF announced a dividend that was paid on December 20th. Shareholders of record on December 17th received a dividend payment of $0.0624 per share. The ex-dividend date was also set for December 17th.

About iShares Biotechnology ETF

The iShares Nasdaq Biotechnology ETF, formerly known as the iShares Nasdaq Biotechnology Index Fund, is an exchange-traded fund (ETF) that aims to reflect the price and yield performance of the NASDAQ Biotechnology Index. This index comprises securities of companies listed on NASDAQ that are categorized as biotechnology or pharmaceuticals, along with other eligibility criteria defined by NASDAQ.

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investment, ETF, finance