Short Interest in Invesco Nasdaq Biotechnology ETF (NASDAQ:IBBQ) Declines By 20.0%

Invesco Nasdaq Biotechnology ETF (NASDAQ:IBBQ) was the target of a large drop in short interest in the month of November. As of November 30th, there was short interest totalling 800 shares, a drop of 20.0% from the November 15th total of 1,000 shares. Based on an average daily volume of 15,800 shares, the days-to-cover ratio is presently 0.1 days.

Invesco Nasdaq Biotechnology ETF Stock Down 0.8 %

NASDAQ:IBBQ traded down $0.19 during mid-day trading on Friday, hitting $22.20. 36,317 shares of the stock traded hands, compared to its average volume of 18,927. The business’s 50-day moving average price is $23.31 and its 200 day moving average price is $23.43. The company has a market cap of $36.19 million, a PE ratio of 17.39 and a beta of 0.61. Invesco Nasdaq Biotechnology ETF has a 12-month low of $20.14 and a 12-month high of $24.84.

Invesco Nasdaq Biotechnology ETF Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Monday, September 23rd were given a dividend of $0.089 per share. This is a positive change from Invesco Nasdaq Biotechnology ETF’s previous quarterly dividend of $0.05. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date was Monday, September 23rd.

Institutional Investors Weigh In On Invesco Nasdaq Biotechnology ETF

A hedge fund recently raised its stake in Invesco Nasdaq Biotechnology ETF stock. Mirae Asset Global Investments Co. Ltd. raised its stake in Invesco Nasdaq Biotechnology ETF (NASDAQ:IBBQ) by 22.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 259,733 shares of the company’s stock after buying an additional 48,137 shares during the period. Mirae Asset Global Investments Co. Ltd. owned about 15.93% of Invesco Nasdaq Biotechnology ETF worth $6,156,000 at the end of the most recent quarter.

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.