Invesco Nasdaq Biotechnology ETF (NASDAQ:IBBQ) Shares Down 1.3% – What’s Next?

Invesco Nasdaq Biotechnology ETF (NASDAQ:IBBQ)’s share price was down 1.3% during trading on Friday . The stock traded as low as $34.63 and last traded at $34.69. Approximately 25,482 shares changed hands during trading, a decline of 12% from the average daily volume of 29,018 shares. The stock had previously closed at $35.13.

Invesco Nasdaq Biotechnology ETF Trading Down 1.3%

The stock has a 50 day moving average price of $34.18 and a two-hundred day moving average price of $31.32. The company has a market cap of $81.17 million, a price-to-earnings ratio of 17.03 and a beta of 0.61.

Hedge Funds Weigh In On Invesco Nasdaq Biotechnology ETF

Several hedge funds have recently added to or reduced their stakes in the stock. Ascentis Independent Advisors acquired a new position in shares of Invesco Nasdaq Biotechnology ETF during the 1st quarter worth about $31,000. Breakwater Capital Group bought a new stake in shares of Invesco Nasdaq Biotechnology ETF in the 1st quarter valued at about $200,000. Ignite Planners LLC bought a new stake in shares of Invesco Nasdaq Biotechnology ETF in the 4th quarter valued at about $220,000. Finally, WMS Group LLC acquired a new stake in shares of Invesco Nasdaq Biotechnology ETF in the 4th quarter valued at approximately $4,255,000.

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.