Invesco Nasdaq Biotechnology ETF (NASDAQ:IBBQ) Shares Up 1.8% – Time to Buy?

Invesco Nasdaq Biotechnology ETF (NASDAQ:IBBQ)’s share price was up 1.8% during trading on Friday . The company traded as high as $33.72 and last traded at $33.72. 16,550 shares changed hands during mid-day trading, a decline of 42% from the average session volume of 28,454 shares. The stock had previously closed at $33.11.

Invesco Nasdaq Biotechnology ETF Stock Up 1.8%

The stock has a market capitalization of $78.90 million, a P/E ratio of 17.03 and a beta of 0.60. The business has a fifty day moving average price of $31.65 and a 200-day moving average price of $30.12.

Invesco Nasdaq Biotechnology ETF Announces Dividend

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

Institutional Investors Weigh In On Invesco Nasdaq Biotechnology ETF

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. WMS Group LLC purchased a new stake in Invesco Nasdaq Biotechnology ETF during the 4th quarter valued at $4,255,000. LPL Financial LLC bought a new stake in shares of Invesco Nasdaq Biotechnology ETF in the fourth quarter worth $1,220,000. Independent Advisor Alliance purchased a new stake in Invesco Nasdaq Biotechnology ETF during the fourth quarter valued at $653,000. GeoWealth Management LLC bought a new position in Invesco Nasdaq Biotechnology ETF in the third quarter valued at about $451,000. Finally, Orion Porfolio Solutions LLC bought a new position in Invesco Nasdaq Biotechnology ETF in the fourth quarter valued at about $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.