Miracle Mile Advisors LLC Decreases Position in Invesco KBW Bank ETF (NASDAQ:KBWB)

Miracle Mile Advisors LLC trimmed its position in shares of Invesco KBW Bank ETF (NASDAQ:KBWB) by 7.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,617 shares of the company’s stock after selling 708 shares during the quarter. Miracle Mile Advisors LLC’s holdings in Invesco KBW Bank ETF were worth $462,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Trust Co. of Vermont boosted its position in Invesco KBW Bank ETF by 105.3% during the fourth quarter. Trust Co. of Vermont now owns 616 shares of the company’s stock worth $30,000 after purchasing an additional 316 shares in the last quarter. PNC Financial Services Group Inc. purchased a new stake in shares of Invesco KBW Bank ETF in the fourth quarter valued at $37,000. Capital Analysts LLC lifted its position in shares of Invesco KBW Bank ETF by 6,779.5% in the fourth quarter. Capital Analysts LLC now owns 2,683 shares of the company’s stock valued at $132,000 after acquiring an additional 2,644 shares in the last quarter. Cerity Partners LLC purchased a new stake in shares of Invesco KBW Bank ETF in the fourth quarter valued at $246,000. Finally, Trexquant Investment LP purchased a new stake in shares of Invesco KBW Bank ETF in the fourth quarter valued at $337,000.

Invesco KBW Bank ETF Stock Up 0.7 %

Shares of NASDAQ:KBWB opened at $53.85 on Tuesday. Invesco KBW Bank ETF has a 52-week low of $36.51 and a 52-week high of $55.44. The stock’s fifty day simple moving average is $53.22 and its 200-day simple moving average is $51.08. The company has a market capitalization of $1.59 billion, a P/E ratio of 10.69 and a beta of 1.19.

Invesco KBW Bank ETF Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Monday, June 24th were given a $0.3984 dividend. The ex-dividend date was Monday, June 24th. This represents a $1.59 annualized dividend and a dividend yield of 2.96%.

Invesco KBW Bank ETF 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.