Invesco Nasdaq Biotechnology ETF (NASDAQ:IBBQ) Stock Falls 1.1% – What’s Next?

Invesco Nasdaq Biotechnology ETF (NASDAQ:IBBQ)’s stock price traded down 1.1% during mid-day trading on Monday. The stock traded as low as $34.23 and last traded at $34.25. 20,899 shares traded hands during mid-day trading, a decline of 33% from the average daily volume of 31,284 shares. The stock had previously closed at $34.62.

Invesco Nasdaq Biotechnology ETF Price Performance

The firm has a market cap of $109.25 million, a P/E ratio of 17.03 and a beta of 0.60. The stock has a 50 day moving average of $34.91 and a 200 day moving average of $32.04.

Invesco Nasdaq Biotechnology ETF Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Monday, September 21st were issued a $0.2304 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date was Monday, September 21st. This is an increase from Invesco Nasdaq Biotechnology ETF’s previous quarterly dividend of $0.0342.

Hedge Funds Weigh In On Invesco Nasdaq Biotechnology ETF

Several institutional investors have recently modified their holdings of IBBQ. WMS Group LLC purchased a new stake in Invesco Nasdaq Biotechnology ETF in the fourth quarter worth approximately $4,255,000. Valeo Financial Advisors LLC purchased a new position in shares of Invesco Nasdaq Biotechnology ETF during the third quarter worth approximately $296,000. Breakwater Capital Group purchased a new position in shares of Invesco Nasdaq Biotechnology ETF during the first quarter worth approximately $200,000. Finally, Ascentis Independent Advisors bought a new stake in shares of Invesco Nasdaq Biotechnology ETF in the 1st quarter worth approximately $31,000.

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.