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

Invesco Nasdaq Biotechnology ETF (NASDAQ:IBBQ) was the recipient of a significant increase in short interest during the month of January. As of January 15th, there was short interest totaling 23,534 shares, an increase of 202.1% from the December 31st total of 7,789 shares. Based on an average trading volume of 87,980 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.9% of the company’s shares are sold short. Currently, 0.9% of the company’s shares are sold short. Based on an average trading volume of 87,980 shares, the days-to-cover ratio is presently 0.3 days.

Invesco Nasdaq Biotechnology ETF Stock Performance

Shares of IBBQ opened at $29.34 on Thursday. Invesco Nasdaq Biotechnology ETF has a fifty-two week low of $17.84 and a fifty-two week high of $30.13. The company has a market capitalization of $72.76 million, a PE ratio of 17.03 and a beta of 0.67. The stock has a fifty day moving average of $28.73 and a two-hundred day moving average of $25.90.

Invesco Nasdaq Biotechnology ETF Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 26th. Investors of record on Monday, December 22nd were paid a $0.0906 dividend. This represents a $0.36 annualized dividend and a yield of 1.2%. The ex-dividend date was Monday, December 22nd.

Institutional Trading of Invesco Nasdaq Biotechnology ETF

Hedge funds have recently added to or reduced their stakes in the business. Osaic Holdings Inc. grew its holdings in Invesco Nasdaq Biotechnology ETF by 28.4% in the 2nd quarter. Osaic Holdings Inc. now owns 4,757 shares of the company’s stock valued at $101,000 after buying an additional 1,052 shares during the period. MMA Asset Management LLC acquired a new stake in shares of Invesco Nasdaq Biotechnology ETF in the third quarter worth approximately $51,000. Advisory Services Network LLC acquired a new stake in shares of Invesco Nasdaq Biotechnology ETF in the third quarter worth approximately $52,000. Raymond James Financial Inc. purchased a new stake in Invesco Nasdaq Biotechnology ETF in the second quarter valued at approximately $149,000. Finally, Atria Investments Inc acquired a new position in Invesco Nasdaq Biotechnology ETF during the second quarter worth approximately $211,000.

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.