Invesco Nasdaq Biotechnology ETF (NASDAQ:IBBQ) Short Interest Down 44.7% in March

Invesco Nasdaq Biotechnology ETF (NASDAQ:IBBQ) was the recipient of a large decrease in short interest in March. As of March 13th, there was short interest totaling 5,609 shares, a decrease of 44.7% from the February 26th total of 10,141 shares. Based on an average daily volume of 22,212 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.2% of the shares of the stock are sold short.

Invesco Nasdaq Biotechnology ETF Stock Down 2.9%

Shares of Invesco Nasdaq Biotechnology ETF stock traded down $0.83 during trading on Friday, hitting $27.59. 19,969 shares of the stock traded hands, compared to its average volume of 36,774. The stock has a market cap of $69.25 million, a price-to-earnings ratio of 17.03 and a beta of 0.67. Invesco Nasdaq Biotechnology ETF has a 52 week low of $17.84 and a 52 week high of $30.49. The firm’s fifty day moving average is $29.20 and its 200-day moving average is $27.72.

Invesco Nasdaq Biotechnology ETF Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Monday, March 23rd were given a dividend of $0.0361 per share. This represents a $0.14 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date was Monday, March 23rd.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. WMS Group LLC bought a new stake in shares of Invesco Nasdaq Biotechnology ETF in the 4th quarter worth approximately $4,255,000. Osaic Holdings Inc. grew its holdings in shares of Invesco Nasdaq Biotechnology ETF by 66.1% during the 4th quarter. Osaic Holdings Inc. now owns 7,989 shares of the company’s stock valued at $227,000 after purchasing an additional 3,178 shares during the last quarter. Royal Bank of Canada purchased a new position in Invesco Nasdaq Biotechnology ETF in the 4th quarter worth $37,000. CreativeOne Wealth LLC purchased a new position in Invesco Nasdaq Biotechnology ETF in the 4th quarter worth $286,000. Finally, Orion Porfolio Solutions LLC bought a new stake in Invesco Nasdaq Biotechnology ETF in the fourth quarter worth $392,000.

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.