Short Interest in Invesco Nasdaq Biotechnology ETF (NASDAQ:IBBQ) Decreases By 49.2%

Invesco Nasdaq Biotechnology ETF (NASDAQ:IBBQ) was the recipient of a significant decrease in short interest in the month of May. As of May 29th, there was short interest totaling 19,405 shares, a decrease of 49.2% from the May 14th total of 38,212 shares. Based on an average daily trading volume, of 24,657 shares, the days-to-cover ratio is currently 0.8 days. Currently, 0.9% of the company’s shares are sold short.

Invesco Nasdaq Biotechnology ETF Stock Performance

Invesco Nasdaq Biotechnology ETF stock traded up $0.07 during midday trading on Friday, hitting $29.57. 7,730 shares of the company’s stock were exchanged, compared to its average volume of 29,053. The company has a market cap of $66.83 million, a PE ratio of 17.03 and a beta of 0.62. Invesco Nasdaq Biotechnology ETF has a 12 month low of $20.67 and a 12 month high of $30.50. The firm has a 50-day moving average of $29.42 and a two-hundred day moving average of $29.11.

Invesco Nasdaq Biotechnology ETF Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Monday, March 23rd were issued a dividend of $0.0361 per share. The ex-dividend date was Monday, March 23rd. This represents a $0.14 annualized dividend and a dividend yield of 0.5%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. WMS Group LLC purchased a new stake in shares of Invesco Nasdaq Biotechnology ETF during the fourth quarter worth about $4,255,000. LPL Financial LLC acquired a new position in shares of Invesco Nasdaq Biotechnology ETF in the fourth quarter valued at approximately $1,220,000. Independent Advisor Alliance acquired a new position in shares of Invesco Nasdaq Biotechnology ETF during the fourth quarter worth about $653,000. GeoWealth Management LLC purchased a new position in shares of Invesco Nasdaq Biotechnology ETF in the 3rd quarter valued at about $451,000. Finally, Orion Porfolio Solutions LLC acquired a new stake in shares of Invesco Nasdaq Biotechnology ETF during the fourth quarter worth about $392,000.

Invesco Nasdaq Biotechnology ETF Company Profile

The Invesco Nasdaq Biotechnology ETF (IBBQ) is an exchange-traded fund that is based on the NASDAQ / Biotechnology index, a modified market-cap-weighted index of US biotechnology and pharmaceutical companies listed on the NASDAQ. IBBQ was launched on Jun 11, 2021 and is managed by Invesco.