iShares Biotechnology ETF Targets Unusually High Options Trades (NASDAQ:IBB)

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iShares Biotechnology ETF (NASDAQ: IBBGet a rating) saw unusual options trading on Wednesday. Traders bought 4,787 put options on the company. This represents an increase of approximately 60% from the typical volume of 2,993 put options.

Institutional investors weigh in on iShares Biotechnology ETF

Institutional investors and hedge funds have recently been buying and selling shares of the company. Independence Bank of Kentucky increased its position in iShares Biotechnology ETF by 121.1% during the 2nd quarter. Independence Bank of Kentucky now owns 210 shares of the financial services provider valued at $25,000 after buying 115 additional shares last quarter. Steward Financial Group LLC bought a new stock position in iShares Biotechnology ETF in Q4 worth $34,000. Close Asset Management Ltd bought a new position in iShares Biotechnology ETF shares in Q2 for a value of $27,000. Dixon Hughes Goodman Wealth Advisors LLC bought a new iShares Biotechnology ETF stock position in Q4 worth $38,000. Finally, Horan Securities Inc. bought a new stock position in iShares Biotechnology ETF in Q4 worth $42,000. 63.88% of the shares are held by institutional investors.

Performance of iShares Biotechnology ETF shares

IBB opened at $130.18 on Friday. The company has a fifty-day moving average of $119.04 and a 200-day moving average of $123.00. iShares Biotechnology ETF has a 52-week low of $104.29 and a 52-week high of $177.37.

iShares Biotechnology ETF cuts dividends

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 15. Investors of record on Friday, June 10 received a dividend of $0.031 per share. This represents a dividend of $0.12 on an annualized basis and a yield of 0.10%. The ex-dividend date was Thursday, June 9.

iShares Biotechnology ETF Company Profile

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iShares Nasdaq Biotechnology ETF (the Fund), formerly iShares Nasdaq Biotechnology Index Fund, is an exchange-traded fund (ETF). The Fund seeks investment results that generally correspond to the price and yield performance of the NASDAQ Biotechnology Index (the Index). The Index contains securities of NASDAQ-listed companies that are classified under the Industry Classification Benchmark as either biotechnology or pharmaceuticals, which also meet other eligibility criteria determined by NASDAQ.

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