Light year distance question

I've recently read that a distant galaxy 11 billion light years away
has been spotted.

Does this mean that in actuality it was 11 billion light years away 11
billion Years ago or that it is that far away now?

If it was 11 billion light year away 11 billion years ago then how can
this be the case assuming the universe is 14 billion years old. Each
galaxy would have had to travel 5.5 billion light years in just three
billion years i.e. moving faster than the speed of light? This is
assuming they originated in the same place as per the big bang theory.

Please let me know if I'm way off the mark here, just interested to
know.

Tony Sims