Traders Buy Large Volume of Put Options on iShares Biotechnology ETF (NASDAQ:IBB)

iShares Biotechnology ETF (NASDAQ:IBB) was the recipient of unusually large options trading activity on Friday. Traders acquired 72,977 put options on the company. This is an increase of approximately 1,643% compared to the average volume of 4,188 put options.

iShares Biotechnology ETF Stock Down 2.1 %

NASDAQ IBB opened at $137.67 on Friday. The firm’s fifty day moving average price is $136.22 and its two-hundred day moving average price is $141.41. iShares Biotechnology ETF has a fifty-two week low of $123.60 and a fifty-two week high of $150.57.

iShares Biotechnology ETF Cuts Dividend

The business also recently announced a dividend, which was paid on Friday, December 20th. Shareholders of record on Tuesday, December 17th were paid a dividend of $0.0624 per share. The ex-dividend date was Tuesday, December 17th.

Institutional Trading of iShares Biotechnology ETF

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Sequoia Financial Advisors LLC grew its stake in shares of iShares Biotechnology ETF by 22.9% in the fourth quarter. Sequoia Financial Advisors LLC now owns 3,205 shares of the financial services provider’s stock worth $424,000 after purchasing an additional 597 shares during the last quarter. HighTower Advisors LLC grew its stake in shares of iShares Biotechnology ETF by 5.1% in the fourth quarter. HighTower Advisors LLC now owns 83,944 shares of the financial services provider’s stock worth $11,098,000 after purchasing an additional 4,047 shares during the last quarter. Endowment Wealth Management Inc. bought a new stake in shares of iShares Biotechnology ETF in the fourth quarter worth $298,000. Citizens Financial Group Inc. RI grew its stake in shares of iShares Biotechnology ETF by 40.8% in the fourth quarter. Citizens Financial Group Inc. RI now owns 2,789 shares of the financial services provider’s stock worth $369,000 after purchasing an additional 808 shares during the last quarter. Finally, Clare Market Investments LLC bought a new stake in shares of iShares Biotechnology ETF in the fourth quarter worth $343,000. Institutional investors own 62.45% of the company’s stock.

About iShares Biotechnology ETF

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.