Invesco KBW Bank ETF (NASDAQ:KBWB) Reaches New 1-Year High Following Dividend Announcement

Shares of Invesco KBW Bank ETF (NASDAQ:KBWB) reached a new 52-week high during trading on Monday following a dividend announcement from the company. The stock traded as high as $86.02 and last traded at $85.9380, with a volume of 569783 shares. The stock had previously closed at $85.27.

The newly announced dividend which will be paid on Friday, December 26th. Stockholders of record on Monday, December 22nd will be paid a $0.4442 dividend. This represents a $1.78 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Monday, December 22nd.

Invesco KBW Bank ETF Stock Performance

The firm has a market cap of $6.36 billion, a price-to-earnings ratio of 13.35 and a beta of 1.11. The business’s 50-day moving average is $78.61 and its 200-day moving average is $75.65.

Institutional Trading of Invesco KBW Bank ETF

A number of institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. grew its stake in shares of Invesco KBW Bank ETF by 77.4% during the third quarter. JPMorgan Chase & Co. now owns 6,215,823 shares of the company’s stock worth $486,140,000 after buying an additional 2,712,112 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its stake in Invesco KBW Bank ETF by 64.8% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 5,595,000 shares of the company’s stock worth $400,714,000 after purchasing an additional 2,200,000 shares during the period. Harel Insurance Investments & Financial Services Ltd. increased its stake in shares of Invesco KBW Bank ETF by 83.8% in the 3rd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 4,177,620 shares of the company’s stock valued at $326,732,000 after acquiring an additional 1,905,000 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Invesco KBW Bank ETF by 306.5% in the first quarter. Goldman Sachs Group Inc. now owns 2,240,028 shares of the company’s stock valued at $140,607,000 after purchasing an additional 1,689,020 shares in the last quarter. Finally, Menora Mivtachim Holdings LTD. raised its position in shares of Invesco KBW Bank ETF by 107.4% during the second quarter. Menora Mivtachim Holdings LTD. now owns 3,085,450 shares of the company’s stock worth $220,980,000 after purchasing an additional 1,597,450 shares during the period.

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.