Short Interest in Invesco Nasdaq Biotechnology ETF (NASDAQ:IBBQ) Increases By 195.9%

Invesco Nasdaq Biotechnology ETF (NASDAQ:IBBQ) saw a large growth in short interest in October. As of October 31st, there was short interest totalling 14,500 shares, a growth of 195.9% from the October 15th total of 4,900 shares. Based on an average daily volume of 28,800 shares, the days-to-cover ratio is presently 0.5 days.

Institutional Investors Weigh In On Invesco Nasdaq Biotechnology ETF

Several institutional investors have recently modified their holdings of IBBQ. ORG Partners LLC acquired a new position in Invesco Nasdaq Biotechnology ETF during the third quarter worth about $25,000. Lake Street Advisors Group LLC purchased a new stake in Invesco Nasdaq Biotechnology ETF during the first quarter valued at about $286,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in Invesco Nasdaq Biotechnology ETF by 22.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 259,733 shares of the company’s stock worth $6,156,000 after purchasing an additional 48,137 shares in the last quarter.

Invesco Nasdaq Biotechnology ETF Stock Performance

NASDAQ:IBBQ traded down $0.59 during trading hours on Tuesday, hitting $23.77. The company’s stock had a trading volume of 4,204 shares, compared to its average volume of 19,497. The company has a market capitalization of $38.75 million, a PE ratio of 17.39 and a beta of 0.61. Invesco Nasdaq Biotechnology ETF has a 52-week low of $18.34 and a 52-week high of $24.84. The business’s 50-day moving average is $23.86 and its two-hundred day moving average is $23.30.

Invesco Nasdaq Biotechnology ETF Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Monday, September 23rd were issued a $0.089 dividend. The ex-dividend date was Monday, September 23rd. This is a boost from Invesco Nasdaq Biotechnology ETF’s previous quarterly dividend of $0.05. This represents a $0.36 dividend on an annualized basis and a yield of 1.50%.

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.