Invesco KBW Bank ETF (NASDAQ:KBWB) Reaches New 52-Week High – Here’s What Happened

Invesco KBW Bank ETF (NASDAQ:KBWB) shares hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $75.38 and last traded at $75.23, with a volume of 141363 shares trading hands. The stock had previously closed at $73.79.

Invesco KBW Bank ETF Stock Performance

The company has a 50-day moving average of $72.60 and a 200-day moving average of $66.86. The firm has a market capitalization of $4.88 billion, a price-to-earnings ratio of 13.35 and a beta of 1.19.

Invesco KBW Bank ETF Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Monday, June 23rd were given a $0.4098 dividend. The ex-dividend date was Monday, June 23rd. This represents a $1.64 annualized dividend and a dividend yield of 2.2%.

Hedge Funds Weigh In On Invesco KBW Bank ETF

Institutional investors and hedge funds have recently modified their holdings of the business. Private Advisor Group LLC grew its position in shares of Invesco KBW Bank ETF by 287.6% in the 1st quarter. Private Advisor Group LLC now owns 27,163 shares of the company’s stock valued at $1,705,000 after purchasing an additional 20,155 shares during the period. Envestnet Asset Management Inc. grew its position in shares of Invesco KBW Bank ETF by 63.8% in the 1st quarter. Envestnet Asset Management Inc. now owns 146,520 shares of the company’s stock valued at $9,197,000 after purchasing an additional 57,078 shares during the period. Private Trust Co. NA grew its position in shares of Invesco KBW Bank ETF by 61.2% in the 1st quarter. Private Trust Co. NA now owns 685 shares of the company’s stock valued at $43,000 after purchasing an additional 260 shares during the period. Jane Street Group LLC acquired a new position in shares of Invesco KBW Bank ETF in the 4th quarter valued at approximately $597,000. Finally, SG Americas Securities LLC acquired a new position in shares of Invesco KBW Bank ETF in the 1st quarter valued at approximately $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.