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

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

Invesco Nasdaq Biotechnology ETF Stock Performance

Invesco Nasdaq Biotechnology ETF stock opened at $28.42 on Friday. The firm has a market capitalization of $71.33 million, a price-to-earnings ratio of 17.03 and a beta of 0.67. Invesco Nasdaq Biotechnology ETF has a fifty-two week low of $17.84 and a fifty-two week high of $30.49. The stock’s fifty day moving average is $29.22 and its two-hundred day moving average is $27.67.

Invesco Nasdaq Biotechnology ETF Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Monday, March 23rd will be given a $0.0361 dividend. The ex-dividend date is Monday, March 23rd. This represents a $0.14 annualized dividend and a dividend yield of 0.5%.

Institutional Investors Weigh In On Invesco Nasdaq Biotechnology ETF

A number of large investors have recently added to or reduced their stakes in IBBQ. WMS Group LLC purchased a new position in Invesco Nasdaq Biotechnology ETF during the 4th quarter valued at about $4,255,000. Osaic Holdings Inc. lifted its holdings in shares of Invesco Nasdaq Biotechnology ETF by 66.1% in the fourth 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 in the last quarter. Royal Bank of Canada purchased a new stake in shares of Invesco Nasdaq Biotechnology ETF in the fourth quarter valued at about $37,000. CreativeOne Wealth LLC acquired a new stake in shares of Invesco Nasdaq Biotechnology ETF in the fourth quarter valued at approximately $286,000. Finally, Orion Porfolio Solutions LLC acquired a new stake in shares of Invesco Nasdaq Biotechnology ETF in the fourth quarter valued at approximately $392,000.

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.