Invesco Nasdaq Biotechnology ETF (NASDAQ:IBBQ) Shares Down 2.7% – Here’s Why

Invesco Nasdaq Biotechnology ETF (NASDAQ:IBBQ) shares traded down 2.7% on Friday . The stock traded as low as $35.39 and last traded at $35.47. Approximately 27,668 shares changed hands during mid-day trading, a decline of 6% from the average daily volume of 29,503 shares. The stock had previously closed at $36.45.

Invesco Nasdaq Biotechnology ETF Price Performance

The firm’s 50 day moving average price is $33.42 and its 200-day moving average price is $30.74. The firm has a market cap of $83.00 million, a price-to-earnings ratio of 17.03 and a beta of 0.60.

Invesco Nasdaq Biotechnology ETF Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Monday, June 22nd were issued a $0.0342 dividend. The ex-dividend date of this dividend was Monday, June 22nd. This represents a $0.14 dividend on an annualized basis and a yield of 0.4%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Ascentis Independent Advisors bought a new stake in shares of Invesco Nasdaq Biotechnology ETF in the first quarter valued at about $31,000. Royal Bank of Canada bought a new position in Invesco Nasdaq Biotechnology ETF during the fourth quarter valued at about $37,000. International Assets Investment Management LLC acquired a new position in Invesco Nasdaq Biotechnology ETF in the 4th quarter valued at approximately $41,000. Advisory Services Network LLC acquired a new position in Invesco Nasdaq Biotechnology ETF in the 3rd quarter valued at approximately $52,000. Finally, Osaic Holdings Inc. lifted its position in shares of Invesco Nasdaq Biotechnology ETF by 28.4% in the 2nd quarter. Osaic Holdings Inc. now owns 4,757 shares of the company’s stock worth $101,000 after acquiring an additional 1,052 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.