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 drop in short interest in the month of March. As of March 13th, there was short interest totaling 5,609 shares, a drop of 44.7% from the February 26th total of 10,141 shares. Based on an average daily volume of 22,212 shares, the short-interest ratio is presently 0.3 days. Approximately 0.2% of the shares of the stock are sold short.

Invesco Nasdaq Biotechnology ETF Stock Performance

IBBQ stock traded down $0.83 during trading on Friday, reaching $27.59. 19,969 shares of the company were exchanged, compared to its average volume of 36,774. The stock’s 50 day moving average price is $29.20 and its 200 day moving average price is $27.72. Invesco Nasdaq Biotechnology ETF has a 52-week low of $17.84 and a 52-week high of $30.49. The company has a market cap of $69.25 million, a P/E ratio of 17.03 and a beta of 0.67.

Invesco Nasdaq Biotechnology ETF Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Monday, March 23rd were paid a dividend of $0.0361 per share. The ex-dividend date of this dividend was Monday, March 23rd. This represents a $0.14 annualized dividend and a dividend yield of 0.5%.

Hedge Funds Weigh In On Invesco Nasdaq Biotechnology ETF

Hedge funds have recently bought and sold shares of the company. Raymond James Financial Inc. purchased a new stake in Invesco Nasdaq Biotechnology ETF during the second quarter worth $149,000. IHT Wealth Management LLC purchased a new position in shares of Invesco Nasdaq Biotechnology ETF in the second quarter valued at $211,000. Osaic Holdings Inc. increased its position in shares of Invesco Nasdaq Biotechnology ETF by 28.4% in the second quarter. Osaic Holdings Inc. now owns 4,757 shares of the company’s stock valued at $101,000 after buying an additional 1,052 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Invesco Nasdaq Biotechnology ETF by 7.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 215,722 shares of the company’s stock worth $5,245,000 after buying an additional 14,717 shares during the last quarter. Finally, MMA Asset Management LLC acquired a new position in shares of Invesco Nasdaq Biotechnology ETF during the 3rd quarter worth $51,000.

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.