Invesco Nasdaq Biotechnology ETF (NASDAQ:IBBQ) Shares Down 2.5% – Here’s Why

Invesco Nasdaq Biotechnology ETF (NASDAQ:IBBQ) dropped 2.5% during mid-day trading on Friday . The company traded as low as $28.96 and last traded at $29.00. Approximately 18,389 shares traded hands during trading, a decline of 42% from the average daily volume of 31,436 shares. The stock had previously closed at $29.75.

Invesco Nasdaq Biotechnology ETF Trading Down 2.5%

The business has a 50 day moving average of $29.14 and a 200-day moving average of $28.79. The firm has a market capitalization of $65.54 million, a P/E ratio of 17.03 and a beta of 0.62.

Invesco Nasdaq Biotechnology ETF Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Monday, March 23rd were paid 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 of this dividend was Monday, March 23rd.

Institutional Trading of Invesco Nasdaq Biotechnology ETF

A number of large investors have recently bought and sold shares of the business. Osaic Holdings Inc. increased its stake in Invesco Nasdaq Biotechnology ETF by 28.4% during the 2nd quarter. Osaic Holdings Inc. now owns 4,757 shares of the company’s stock worth $101,000 after purchasing an additional 1,052 shares in the last quarter. Ascentis Independent Advisors bought a new position in shares of Invesco Nasdaq Biotechnology ETF during the 1st quarter worth approximately $31,000. Royal Bank of Canada bought a new position in shares of Invesco Nasdaq Biotechnology ETF during the 4th quarter worth approximately $37,000. International Assets Investment Management LLC bought a new position in shares of Invesco Nasdaq Biotechnology ETF during the 4th quarter worth approximately $41,000. Finally, MMA Asset Management LLC bought a new position in shares of Invesco Nasdaq Biotechnology ETF during the 3rd quarter worth approximately $51,000.

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.