Invesco Nasdaq Biotechnology ETF (NASDAQ:IBBQ) Shares Cross Below 200-Day Moving Average – Here’s Why

Invesco Nasdaq Biotechnology ETF (NASDAQ:IBBQ)’s stock price passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $23.37 and traded as low as $22.93. Invesco Nasdaq Biotechnology ETF shares last traded at $22.93, with a volume of 8,966 shares trading hands.

Invesco Nasdaq Biotechnology ETF Price Performance

The stock has a market capitalization of $37.38 million, a price-to-earnings ratio of 17.39 and a beta of 0.61. The firm has a 50 day simple moving average of $23.57 and a 200-day simple moving average of $23.38.

Invesco Nasdaq Biotechnology ETF Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Monday, September 23rd were issued a $0.089 dividend. This is an increase from Invesco Nasdaq Biotechnology ETF’s previous quarterly dividend of $0.05. This represents a $0.36 annualized dividend and a dividend yield of 1.55%. The ex-dividend date of this dividend was Monday, September 23rd.

Hedge Funds 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. lifted its holdings in Invesco Nasdaq Biotechnology ETF (NASDAQ:IBBQ) by 22.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 259,733 shares of the company’s stock after buying 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 quarter.

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.