Short Interest in Invesco Nasdaq Biotechnology ETF (NASDAQ:IBBQ) Drops By 90.6%

Invesco Nasdaq Biotechnology ETF (NASDAQ:IBBQ) was the recipient of a significant drop in short interest in the month of January. As of January 30th, there was short interest totaling 2,218 shares, a drop of 90.6% from the January 15th total of 23,534 shares. Currently, 0.1% of the company’s stock are short sold. Based on an average daily volume of 37,007 shares, the short-interest ratio is presently 0.1 days. Based on an average daily volume of 37,007 shares, the short-interest ratio is presently 0.1 days. Currently, 0.1% of the company’s stock are short sold.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Atria Investments Inc acquired a new stake in shares of Invesco Nasdaq Biotechnology ETF in the 2nd quarter valued at $211,000. Ignite Planners LLC purchased a new position in Invesco Nasdaq Biotechnology ETF in the fourth quarter valued at $220,000. Advisory Services Network LLC purchased a new position in Invesco Nasdaq Biotechnology ETF in the third quarter valued at $52,000. GeoWealth Management LLC acquired a new stake in Invesco Nasdaq Biotechnology ETF in the third quarter valued at $451,000. Finally, Osaic Holdings Inc. lifted its holdings 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 buying an additional 1,052 shares during the last quarter.

Invesco Nasdaq Biotechnology ETF Stock Down 1.1%

NASDAQ IBBQ traded down $0.34 during trading hours on Tuesday, hitting $29.34. 24,620 shares of the company were exchanged, compared to its average volume of 55,230. The firm has a market cap of $73.64 million, a price-to-earnings ratio of 17.03 and a beta of 0.67. The company has a 50 day moving average of $28.89 and a two-hundred day moving average of $26.37. Invesco Nasdaq Biotechnology ETF has a 52-week low of $17.84 and a 52-week high of $30.13.

Invesco Nasdaq Biotechnology ETF Cuts Dividend

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

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.