Invesco Nasdaq Biotechnology ETF (NASDAQ:IBBQ) Stock Price Up 1.8% – What’s Next?

Invesco Nasdaq Biotechnology ETF (NASDAQ:IBBQ)’s stock price rose 1.8% during trading on Friday . The company traded as high as $33.72 and last traded at $33.72. 16,550 shares changed hands during trading, a decline of 42% from the average daily volume of 28,454 shares. The stock had previously closed at $33.11.

Invesco Nasdaq Biotechnology ETF Trading Up 1.8%

The stock’s 50 day moving average is $31.65 and its two-hundred day moving average is $30.12. The stock has a market capitalization of $78.90 million, a price-to-earnings ratio of 17.03 and a beta of 0.60.

Invesco Nasdaq Biotechnology ETF Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Monday, June 22nd were given a dividend of $0.0342 per share. This represents a $0.14 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, June 22nd.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Ascentis Independent Advisors bought a new stake in Invesco Nasdaq Biotechnology ETF in the 1st quarter valued at approximately $31,000. Royal Bank of Canada bought a new position in shares of Invesco Nasdaq Biotechnology ETF during the 4th quarter worth approximately $37,000. International Assets Investment Management LLC bought a new position in shares of Invesco Nasdaq Biotechnology ETF during the 4th quarter worth approximately $41,000. Advisory Services Network LLC acquired a new stake in shares of Invesco Nasdaq Biotechnology ETF in the third quarter valued at approximately $52,000. Finally, Osaic Holdings Inc. raised its holdings in shares of Invesco Nasdaq Biotechnology ETF by 28.4% in the second quarter. Osaic Holdings Inc. now owns 4,757 shares of the company’s stock valued at $101,000 after purchasing an additional 1,052 shares during the last quarter.

About Invesco Nasdaq Biotechnology ETF

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.