Invesco KBW Bank ETF (NASDAQ:KBWB) Reaches New 12-Month High – Still a Buy?

Shares of Invesco KBW Bank ETF (NASDAQ:KBWB) reached a new 52-week high during mid-day trading on Friday . The company traded as high as $92.28 and last traded at $92.02, with a volume of 125785 shares. The stock had previously closed at $91.05.

Invesco KBW Bank ETF Stock Up 1.1%

The company’s fifty day simple moving average is $85.93 and its 200 day simple moving average is $84.33. The firm has a market capitalization of $5.81 billion, a PE ratio of 13.35 and a beta of 1.02.

Invesco KBW Bank ETF Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Monday, March 23rd were paid a $0.4898 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date was Monday, March 23rd. This is a boost from Invesco KBW Bank ETF’s previous quarterly dividend of $0.44.

Institutional Investors Weigh In On Invesco KBW Bank ETF

Hedge funds have recently made changes to their positions in the company. Hobbs Group Advisors LLC raised its holdings in Invesco KBW Bank ETF by 12.2% in the first quarter. Hobbs Group Advisors LLC now owns 42,546 shares of the company’s stock worth $3,366,000 after purchasing an additional 4,638 shares in the last quarter. Waverly Advisors LLC boosted its holdings in shares of Invesco KBW Bank ETF by 15.8% during the 1st quarter. Waverly Advisors LLC now owns 3,491 shares of the company’s stock valued at $276,000 after buying an additional 477 shares in the last quarter. Measured Wealth Private Client Group LLC boosted its holdings in shares of Invesco KBW Bank ETF by 68.0% during the 1st quarter. Measured Wealth Private Client Group LLC now owns 7,680 shares of the company’s stock valued at $608,000 after buying an additional 3,109 shares in the last quarter. Hanover Advisors Inc. grew its position in shares of Invesco KBW Bank ETF by 9.1% in the 1st quarter. Hanover Advisors Inc. now owns 7,807 shares of the company’s stock worth $618,000 after buying an additional 652 shares during the period. Finally, Lowe Brockenbrough & Co. Inc. grew its position in shares of Invesco KBW Bank ETF by 0.6% in the 1st quarter. Lowe Brockenbrough & Co. Inc. now owns 109,735 shares of the company’s stock worth $8,682,000 after buying an additional 678 shares during the period.

Invesco KBW Bank ETF Company Profile

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.