Short Interest in Invesco Nasdaq Biotechnology ETF (NASDAQ:IBBQ) Rises By 822.9%

Invesco Nasdaq Biotechnology ETF (NASDAQ:IBBQ) was the target of a large growth in short interest in February. As of February 13th, there was short interest totaling 20,471 shares, a growth of 822.9% from the January 29th total of 2,218 shares. Based on an average daily volume of 35,531 shares, the days-to-cover ratio is currently 0.6 days. Approximately 0.8% of the company’s stock are sold short. Approximately 0.8% of the company’s stock are sold short. Based on an average daily volume of 35,531 shares, the days-to-cover ratio is currently 0.6 days.

Invesco Nasdaq Biotechnology ETF Trading Up 0.7%

Shares of IBBQ stock traded up $0.22 on Friday, reaching $30.00. 6,230 shares of the stock were exchanged, compared to its average volume of 46,103. The company has a market capitalization of $75.30 million, a price-to-earnings ratio of 17.03 and a beta of 0.67. The business’s 50 day moving average price is $29.20 and its 200 day moving average price is $26.92. Invesco Nasdaq Biotechnology ETF has a twelve month low of $17.84 and a twelve month high of $30.49.

Invesco Nasdaq Biotechnology ETF Cuts Dividend

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

Hedge Funds Weigh In On Invesco Nasdaq Biotechnology ETF

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IBBQ. Royal Bank of Canada acquired a new stake in Invesco Nasdaq Biotechnology ETF during the fourth quarter worth approximately $37,000. International Assets Investment Management LLC purchased a new stake in Invesco Nasdaq Biotechnology ETF in the fourth quarter valued at $41,000. MMA Asset Management LLC acquired a new position in Invesco Nasdaq Biotechnology ETF in the third quarter valued at $51,000. Advisory Services Network LLC acquired a new position in Invesco Nasdaq Biotechnology ETF in the third quarter valued at $52,000. Finally, Osaic Holdings Inc. grew its holdings in shares of Invesco Nasdaq Biotechnology ETF by 28.4% during the second quarter. Osaic Holdings Inc. now owns 4,757 shares of the company’s stock worth $101,000 after purchasing an additional 1,052 shares during the last 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.