Invesco Nasdaq Biotechnology ETF (NASDAQ:IBBQ) Sees Significant Decrease in Short Interest

Invesco Nasdaq Biotechnology ETF (NASDAQ:IBBQ) was the recipient of a large decline in short interest during the month of February. As of February 28th, there was short interest totalling 3,900 shares, a decline of 41.8% from the February 13th total of 6,700 shares. Based on an average daily volume of 14,700 shares, the days-to-cover ratio is currently 0.3 days. Approximately 0.2% of the shares of the company are sold short.

Invesco Nasdaq Biotechnology ETF Stock Performance

IBBQ opened at $22.21 on Monday. The business has a 50 day moving average price of $22.29 and a 200 day moving average price of $22.92. Invesco Nasdaq Biotechnology ETF has a twelve month low of $20.14 and a twelve month high of $24.84. The firm has a market cap of $39.31 million, a P/E ratio of 17.68 and a beta of 0.61.

Invesco Nasdaq Biotechnology ETF Announces Dividend

The business also recently announced a dividend, which was paid on Friday, December 27th. Investors of record on Monday, December 23rd were issued a $0.0619 dividend. The ex-dividend date of this dividend was Monday, December 23rd.

Institutional Investors Weigh In On Invesco Nasdaq Biotechnology ETF

Several institutional investors and hedge funds have recently added to or reduced their stakes in IBBQ. Strategic Financial Concepts LLC acquired a new stake in Invesco Nasdaq Biotechnology ETF in the 4th quarter worth approximately $1,699,000. Raymond James Financial Inc. bought a new position in Invesco Nasdaq Biotechnology ETF in the 4th quarter worth approximately $888,000. Tower Research Capital LLC TRC increased its position in Invesco Nasdaq Biotechnology ETF by 148.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 28,061 shares of the company’s stock worth $604,000 after buying an additional 16,768 shares during the period. Finally, Advisory Services Network LLC increased its position in Invesco Nasdaq Biotechnology ETF by 5.8% in the 4th quarter. Advisory Services Network LLC now owns 53,609 shares of the company’s stock worth $1,154,000 after buying an additional 2,922 shares during the period.

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.