Invesco Nasdaq Biotechnology ETF (NASDAQ:IBBQ) Shares Up 0.3% – Still a Buy?

Invesco Nasdaq Biotechnology ETF (NASDAQ:IBBQ)’s share price shot up 0.3% on Tuesday . The stock traded as high as $26.43 and last traded at $26.35. 17,996 shares changed hands during mid-day trading, an increase of 45% from the average session volume of 12,421 shares. The stock had previously closed at $26.27.

Invesco Nasdaq Biotechnology ETF Stock Performance

The company has a 50 day moving average of $24.52 and a two-hundred day moving average of $22.42. The stock has a market cap of $42.69 million, a PE ratio of 17.03 and a beta of 0.67.

Invesco Nasdaq Biotechnology ETF Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Monday, September 22nd were paid a $0.0958 dividend. The ex-dividend date was Monday, September 22nd. This represents a $0.38 annualized dividend and a dividend yield of 1.5%. This is a boost from Invesco Nasdaq Biotechnology ETF’s previous quarterly dividend of $0.03.

Hedge Funds Weigh In On Invesco Nasdaq Biotechnology ETF

Institutional investors and hedge funds have recently modified their holdings of the business. Osaic Holdings Inc. increased its stake in shares of Invesco Nasdaq Biotechnology ETF by 28.4% in the 2nd quarter. Osaic Holdings Inc. now owns 4,757 shares of the company’s stock valued at $101,000 after purchasing an additional 1,052 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Invesco Nasdaq Biotechnology ETF in the 2nd quarter valued at about $149,000. IHT Wealth Management LLC acquired a new stake in Invesco Nasdaq Biotechnology ETF in the 2nd quarter worth about $211,000. Atria Investments Inc acquired a new stake in Invesco Nasdaq Biotechnology ETF in the 2nd quarter worth about $211,000. Finally, CreativeOne Wealth LLC acquired a new stake in Invesco Nasdaq Biotechnology ETF in the 1st quarter worth about $222,000.

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.