Invesco Nasdaq Biotechnology ETF (NASDAQ:IBBQ) Sees Large Drop in Short Interest

Invesco Nasdaq Biotechnology ETF (NASDAQ:IBBQ) saw a large drop in short interest in February. As of February 27th, there was short interest totaling 10,141 shares, a drop of 50.5% from the February 12th total of 20,471 shares. Based on an average daily volume of 18,389 shares, the short-interest ratio is currently 0.6 days. Approximately 0.4% of the company’s stock are short sold. Approximately 0.4% of the company’s stock are short sold. Based on an average daily volume of 18,389 shares, the short-interest ratio is currently 0.6 days.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. WMS Group LLC bought a new position in shares of Invesco Nasdaq Biotechnology ETF in the fourth quarter worth about $4,255,000. LPL Financial LLC bought a new position in shares of Invesco Nasdaq Biotechnology ETF during the 4th quarter worth about $1,220,000. Independent Advisor Alliance acquired a new stake in Invesco Nasdaq Biotechnology ETF during the fourth quarter valued at approximately $653,000. GeoWealth Management LLC acquired a new stake in Invesco Nasdaq Biotechnology ETF in the 3rd quarter valued at $451,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Invesco Nasdaq Biotechnology ETF by 7.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 215,722 shares of the company’s stock valued at $5,245,000 after purchasing an additional 14,717 shares in the last quarter.

Invesco Nasdaq Biotechnology ETF Price Performance

IBBQ traded down $0.13 during midday trading on Friday, hitting $28.46. 4,261 shares of the company’s stock traded hands, compared to its average volume of 41,324. The stock’s fifty day simple moving average is $29.32 and its 200-day simple moving average is $27.41. Invesco Nasdaq Biotechnology ETF has a one year low of $17.84 and a one year high of $30.49. The company has a market cap of $71.43 million, a PE ratio of 17.03 and a beta of 0.67.

Invesco Nasdaq Biotechnology ETF Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 26th. Shareholders of record on Monday, December 22nd were given a dividend of $0.0906 per share. This represents a $0.36 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Monday, December 22nd.

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.