Invesco Nasdaq Biotechnology ETF (NASDAQ:IBBQ) Sees Significant Increase in Short Interest

Invesco Nasdaq Biotechnology ETF (NASDAQ:IBBQ) saw a large increase in short interest in August. As of August 15th, there was short interest totaling 13,900 shares, anincreaseof59.8% from the July 31st total of 8,700 shares. Based on an average daily trading volume, of 9,100 shares, the days-to-cover ratio is currently 1.5 days. Based on an average daily trading volume, of 9,100 shares, the days-to-cover ratio is currently 1.5 days.

Invesco Nasdaq Biotechnology ETF Stock Performance

IBBQ opened at $24.21 on Friday. Invesco Nasdaq Biotechnology ETF has a fifty-two week low of $17.84 and a fifty-two week high of $24.84. The firm’s fifty day moving average is $22.65 and its 200 day moving average is $21.57. The stock has a market cap of $36.80 million, a price-to-earnings ratio of 17.03 and a beta of 0.61.

Invesco Nasdaq Biotechnology ETF Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Monday, June 23rd were paid a dividend of $0.0287 per share. The ex-dividend date was Monday, June 23rd. This represents a $0.11 dividend on an annualized basis and a dividend yield of 0.5%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Osaic Holdings Inc. lifted its stake in shares of Invesco Nasdaq Biotechnology ETF by 28.4% during the 2nd 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. Raymond James Financial Inc. bought a new stake in Invesco Nasdaq Biotechnology ETF in the 2nd quarter valued at $149,000. IHT Wealth Management LLC bought a new stake in Invesco Nasdaq Biotechnology ETF in the 2nd quarter valued at $211,000. Atria Investments Inc bought a new stake in Invesco Nasdaq Biotechnology ETF in the 2nd quarter valued at $211,000. Finally, CreativeOne Wealth LLC bought a new stake in Invesco Nasdaq Biotechnology ETF in the 1st quarter valued at $222,000.

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.