Short Interest in Invesco Nasdaq Biotechnology ETF (NASDAQ:IBBQ) Increases By 228.8%

Invesco Nasdaq Biotechnology ETF (NASDAQ:IBBQ) saw a significant increase in short interest during the month of July. As of July 15th, there was short interest totalling 24,000 shares, an increase of 228.8% from the June 30th total of 7,300 shares. Based on an average daily volume of 10,100 shares, the short-interest ratio is presently 2.4 days.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Lake Street Advisors Group LLC bought a new position in shares of Invesco Nasdaq Biotechnology ETF during the first quarter valued at $286,000. Eudaimonia Partners LLC bought a new position in shares of Invesco Nasdaq Biotechnology ETF during the first quarter valued at $923,000. Finally, Eudaimonia Advisors LLC bought a new position in shares of Invesco Nasdaq Biotechnology ETF during the first quarter valued at $1,568,000.

Invesco Nasdaq Biotechnology ETF Stock Performance

Shares of IBBQ traded up $0.27 during mid-day trading on Thursday, hitting $24.35. The company’s stock had a trading volume of 15,735 shares, compared to its average volume of 15,868. Invesco Nasdaq Biotechnology ETF has a one year low of $18.18 and a one year high of $24.74. The firm has a market capitalization of $35.79 million, a PE ratio of 17.39 and a beta of 0.61. The stock’s 50-day moving average is $22.87 and its two-hundred day moving average is $22.21.

Invesco Nasdaq Biotechnology ETF Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Monday, June 24th were given a $0.0506 dividend. This is a boost from Invesco Nasdaq Biotechnology ETF’s previous quarterly dividend of $0.04. This represents a $0.20 annualized dividend and a yield of 0.83%. The ex-dividend date was Monday, June 24th.

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.