Invesco Nasdaq Biotechnology ETF (NASDAQ:IBBQ) Shares Shorted: Short Interest Down 40.6% in September

Invesco Nasdaq Biotechnology ETF (NASDAQ:IBBQ) was the target of a significant drop in short interest during the month of September. As of September 30th, there was short interest totaling 34,199 shares, a drop of 40.6% from the September 15th total of 57,529 shares. Based on an average trading volume of 40,379 shares, the short-interest ratio is currently 0.8 days. Approximately 1.1% of the company’s shares are short sold.

Hedge Funds Weigh In On Invesco Nasdaq Biotechnology ETF

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. WMS Group LLC purchased a new position in Invesco Nasdaq Biotechnology ETF in the fourth quarter valued at $4,255,000. Valeo Financial Advisors LLC acquired a new position in shares of Invesco Nasdaq Biotechnology ETF in the 3rd quarter valued at $296,000. Breakwater Capital Group purchased a new position in shares of Invesco Nasdaq Biotechnology ETF during the first quarter worth about $200,000. Finally, Ascentis Independent Advisors acquired a new position in Invesco Nasdaq Biotechnology ETF during the first quarter worth approximately $31,000.

Invesco Nasdaq Biotechnology ETF Price Performance

Shares of IBBQ opened at $33.93 on Thursday. The firm has a 50-day simple moving average of $34.93 and a two-hundred day simple moving average of $32.07. The stock has a market cap of $109.25 million, a PE ratio of 17.03 and a beta of 0.60. Invesco Nasdaq Biotechnology ETF has a 1-year low of $25.55 and a 1-year high of $36.84.

Invesco Nasdaq Biotechnology ETF Increases Dividend

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

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.