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

Invesco KBW Bank ETF (NASDAQ:KBWB)’s stock price reached a new 52-week high during trading on Wednesday . The stock traded as high as $69.63 and last traded at $69.63, with a volume of 659 shares traded. The stock had previously closed at $68.88.

Invesco KBW Bank ETF Stock Down 0.3 %

The company has a 50 day moving average of $60.79 and a 200 day moving average of $57.02. The firm has a market cap of $2.10 billion, a price-to-earnings ratio of 10.69 and a beta of 1.19.

Invesco KBW Bank ETF Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Monday, September 23rd were paid a $0.424 dividend. This is a boost from Invesco KBW Bank ETF’s previous quarterly dividend of $0.40. The ex-dividend date was Monday, September 23rd. This represents a $1.70 annualized dividend and a dividend yield of 2.47%.

Institutional Trading of Invesco KBW Bank ETF

Several institutional investors and hedge funds have recently bought and sold shares of the company. Fisher Asset Management LLC raised its stake in Invesco KBW Bank ETF by 11.6% during the third quarter. Fisher Asset Management LLC now owns 2,529,651 shares of the company’s stock valued at $148,263,000 after buying an additional 262,800 shares in the last quarter. Wharton Business Group LLC raised its stake in Invesco KBW Bank ETF by 27.4% during the third quarter. Wharton Business Group LLC now owns 1,987,535 shares of the company’s stock valued at $116,489,000 after buying an additional 427,872 shares in the last quarter. Fiduciary Trust Co acquired a new stake in Invesco KBW Bank ETF during the third quarter valued at approximately $27,113,000. Clal Insurance Enterprises Holdings Ltd raised its stake in Invesco KBW Bank ETF by 6.9% during the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 278,000 shares of the company’s stock valued at $16,294,000 after buying an additional 18,000 shares in the last quarter. Finally, Valley Wealth Managers Inc. raised its stake in Invesco KBW Bank ETF by 55.9% during the third quarter. Valley Wealth Managers Inc. now owns 203,122 shares of the company’s stock valued at $11,905,000 after buying an additional 72,820 shares in the last quarter.

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.