Short Interest in Invesco Nasdaq Biotechnology ETF (NASDAQ:IBBQ) Expands By 81.8%

Invesco Nasdaq Biotechnology ETF (NASDAQ:IBBQ) saw a significant increase in short interest during the month of June. As of June 30th, there was short interest totaling 34,933 shares, an increase of 81.8% from the June 15th total of 19,219 shares. Based on an average trading volume of 35,762 shares, the days-to-cover ratio is presently 1.0 days. Currently, 1.6% of the shares of the stock are sold short.

Invesco Nasdaq Biotechnology ETF Stock Up 0.1%

Shares of NASDAQ:IBBQ opened at $32.62 on Friday. The company has a market capitalization of $73.72 million, a P/E ratio of 17.03 and a beta of 0.60. Invesco Nasdaq Biotechnology ETF has a 52-week low of $21.87 and a 52-week high of $34.22. The stock’s fifty day simple moving average is $30.70 and its 200-day simple moving average is $29.71.

Invesco Nasdaq Biotechnology ETF Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Monday, June 22nd were paid a $0.0342 dividend. The ex-dividend date of this dividend was Monday, June 22nd. This represents a $0.14 annualized dividend and a yield of 0.4%.

Institutional Investors Weigh In On Invesco Nasdaq Biotechnology ETF

Hedge funds have recently modified their holdings of the company. Raymond James Financial Inc. acquired a new position in shares of Invesco Nasdaq Biotechnology ETF in the second quarter valued at approximately $149,000. IHT Wealth Management LLC acquired a new stake in Invesco Nasdaq Biotechnology ETF during the second quarter worth approximately $211,000. Osaic Holdings Inc. grew its stake in Invesco Nasdaq Biotechnology ETF by 28.4% in the 2nd quarter. Osaic Holdings Inc. now owns 4,757 shares of the company’s stock worth $101,000 after acquiring an additional 1,052 shares during the period. GeoWealth Management LLC purchased a new stake in Invesco Nasdaq Biotechnology ETF in the 3rd quarter worth approximately $451,000. Finally, Advisory Services Network LLC acquired a new position in Invesco Nasdaq Biotechnology ETF in the 3rd quarter valued at $52,000.

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.