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

Invesco KBW Bank ETF (NASDAQ:KBWB)’s share price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $80.04 and last traded at $79.80, with a volume of 235257 shares. The stock had previously closed at $78.71.

Invesco KBW Bank ETF Price Performance

The business’s 50-day moving average price is $75.34 and its 200 day moving average price is $68.09. The firm has a market capitalization of $5.04 billion, a price-to-earnings ratio of 13.35 and a beta of 1.19.

Invesco KBW Bank ETF Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Monday, September 22nd will be given a $0.4515 dividend. This represents a $1.81 dividend on an annualized basis and a dividend yield of 2.3%. This is a positive change from Invesco KBW Bank ETF’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Monday, September 22nd.

Institutional Trading of Invesco KBW Bank ETF

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Private Advisor Group LLC increased its holdings in shares of Invesco KBW Bank ETF by 287.6% during the 1st quarter. Private Advisor Group LLC now owns 27,163 shares of the company’s stock worth $1,705,000 after acquiring an additional 20,155 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in Invesco KBW Bank ETF by 63.8% during the first quarter. Envestnet Asset Management Inc. now owns 146,520 shares of the company’s stock worth $9,197,000 after purchasing an additional 57,078 shares during the period. Private Trust Co. NA lifted its holdings in shares of Invesco KBW Bank ETF by 61.2% in the first quarter. Private Trust Co. NA now owns 685 shares of the company’s stock valued at $43,000 after purchasing an additional 260 shares in the last quarter. Jane Street Group LLC bought a new stake in Invesco KBW Bank ETF during the fourth quarter worth $597,000. Finally, SG Americas Securities LLC bought a new stake in shares of Invesco KBW Bank ETF in the first quarter valued at $619,000.

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.