Short Interest in Invesco Nasdaq Biotechnology ETF (NASDAQ:IBBQ) Declines By 20.0%

Invesco Nasdaq Biotechnology ETF (NASDAQ:IBBQ) was the recipient of a large decline in short interest during the month of November. As of November 30th, there was short interest totalling 800 shares, a decline of 20.0% from the November 15th total of 1,000 shares. Based on an average trading volume of 15,800 shares, the days-to-cover ratio is presently 0.1 days.

Institutional Investors Weigh In On Invesco Nasdaq Biotechnology ETF

A hedge fund recently raised its stake in Invesco Nasdaq Biotechnology ETF stock. Mirae Asset Global Investments Co. Ltd. increased its stake in Invesco Nasdaq Biotechnology ETF (NASDAQ:IBBQ) by 22.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 259,733 shares of the company’s stock after acquiring an additional 48,137 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned about 15.93% of Invesco Nasdaq Biotechnology ETF worth $6,156,000 at the end of the most recent reporting period.

Invesco Nasdaq Biotechnology ETF Stock Performance

Shares of NASDAQ IBBQ opened at $22.20 on Monday. The stock has a market cap of $36.19 million, a P/E ratio of 17.39 and a beta of 0.61. The firm has a 50 day moving average price of $23.31 and a two-hundred day moving average price of $23.45. Invesco Nasdaq Biotechnology ETF has a 52-week low of $20.14 and a 52-week high of $24.84.

Invesco Nasdaq Biotechnology ETF Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Monday, September 23rd were given a dividend of $0.089 per share. This is a positive change from Invesco Nasdaq Biotechnology ETF’s previous quarterly dividend of $0.05. This represents a $0.36 annualized dividend and a yield of 1.60%. The ex-dividend date was Monday, September 23rd.

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.