Invesco Nasdaq Biotechnology ETF (NASDAQ:IBBQ) Short Interest Down 49.2% in May

Invesco Nasdaq Biotechnology ETF (NASDAQ:IBBQ) was the target of a large decline in short interest in the month of May. As of May 29th, there was short interest totaling 19,405 shares, a decline of 49.2% from the May 14th total of 38,212 shares. Approximately 0.9% of the shares of the company are sold short. Based on an average daily volume of 24,657 shares, the days-to-cover ratio is presently 0.8 days.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in IBBQ. Ascentis Independent Advisors bought a new position in shares of Invesco Nasdaq Biotechnology ETF during the 1st quarter valued at approximately $31,000. Royal Bank of Canada bought a new position in shares of Invesco Nasdaq Biotechnology ETF during the 4th quarter valued at approximately $37,000. International Assets Investment Management LLC bought a new position in shares of Invesco Nasdaq Biotechnology ETF during the 4th quarter valued at approximately $41,000. Advisory Services Network LLC bought a new position in shares of Invesco Nasdaq Biotechnology ETF during the 3rd quarter valued at approximately $52,000. Finally, Osaic Holdings Inc. grew 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 acquiring an additional 1,052 shares during the period.

Invesco Nasdaq Biotechnology ETF Stock Up 0.5%

Shares of Invesco Nasdaq Biotechnology ETF stock traded up $0.16 during trading hours on Monday, reaching $29.73. 7,279 shares of the stock traded hands, compared to its average volume of 28,860. The company has a 50 day moving average price of $29.43 and a 200 day moving average price of $29.12. The firm has a market capitalization of $67.19 million, a price-to-earnings ratio of 17.03 and a beta of 0.62. Invesco Nasdaq Biotechnology ETF has a one year low of $20.67 and a one year high of $30.50.

Invesco Nasdaq Biotechnology ETF Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Monday, March 23rd were paid a dividend of $0.0361 per share. The ex-dividend date was Monday, March 23rd. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.5%.

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.