Invesco KBW Bank ETF (NASDAQ:KBWB) Hits New 52-Week High – Time to Buy?

Invesco KBW Bank ETF (NASDAQ:KBWB)’s stock price reached a new 52-week high during trading on Wednesday . The stock traded as high as $80.08 and last traded at $79.6480, with a volume of 468443 shares trading hands. The stock had previously closed at $78.32.

Invesco KBW Bank ETF Trading Up 1.3%

The firm has a market capitalization of $5.87 billion, a price-to-earnings ratio of 13.35 and a beta of 1.11. The business has a 50-day moving average price of $77.09 and a two-hundred day moving average price of $72.53.

Invesco KBW Bank ETF Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Monday, September 22nd were given a $0.4515 dividend. This is a boost from Invesco KBW Bank ETF’s previous quarterly dividend of $0.41. This represents a $1.81 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Monday, September 22nd.

Hedge Funds Weigh In On Invesco KBW Bank ETF

Several institutional investors have recently modified their holdings of KBWB. Allworth Financial LP increased its holdings in shares of Invesco KBW Bank ETF by 59.4% in the 2nd quarter. Allworth Financial LP now owns 400 shares of the company’s stock worth $29,000 after acquiring an additional 149 shares during the period. UMB Bank n.a. bought a new position in Invesco KBW Bank ETF in the 3rd quarter worth about $31,000. Fifth Third Bancorp acquired a new stake in shares of Invesco KBW Bank ETF in the second quarter valued at approximately $31,000. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Invesco KBW Bank ETF in the first quarter valued at approximately $27,000. Finally, AE Wealth Management LLC raised its holdings in shares of Invesco KBW Bank ETF by 214.4% during the second quarter. AE Wealth Management LLC now owns 459 shares of the company’s stock valued at $33,000 after buying an additional 313 shares during the last quarter.

About Invesco KBW Bank ETF

The Invesco KBW Bank ETF (KBWB) is an exchange-traded fund that is based on the KBW Nasdaq Bank index, a modified market-cap-weighted index of US banking firms. KBWB was launched on Nov 1, 2011 and is managed by Invesco.