Invesco KBW Bank ETF (NASDAQ:KBWB) Sets New 1-Year High – Still a Buy?

Invesco KBW Bank ETF (NASDAQ:KBWB) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $70.21 and last traded at $70.14, with a volume of 113902 shares changing hands. The stock had previously closed at $69.54.

Invesco KBW Bank ETF Trading Up 1.5 %

The stock has a market capitalization of $2.16 billion, a price-to-earnings ratio of 10.69 and a beta of 1.19. The firm has a 50-day moving average of $62.53 and a 200-day moving average of $57.79.

Invesco KBW Bank ETF Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Monday, September 23rd were issued a $0.424 dividend. The ex-dividend date of this dividend was Monday, September 23rd. This is a positive change from Invesco KBW Bank ETF’s previous quarterly dividend of $0.40. This represents a $1.70 dividend on an annualized basis and a dividend yield of 2.40%.

Hedge Funds Weigh In On Invesco KBW Bank ETF

A number of institutional investors have recently bought and sold shares of the business. Fiduciary Trust Co purchased a new position in shares of Invesco KBW Bank ETF during the 3rd quarter valued at about $27,113,000. Wharton Business Group LLC raised its position 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 acquiring an additional 427,872 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in Invesco KBW Bank ETF by 11.6% in the third quarter. Fisher Asset Management LLC now owns 2,529,651 shares of the company’s stock valued at $148,263,000 after acquiring an additional 262,800 shares during the period. Good Life Advisors LLC purchased a new stake in Invesco KBW Bank ETF in the 3rd quarter worth approximately $7,819,000. Finally, Valley Wealth Managers Inc. acquired a new stake in shares of Invesco KBW Bank ETF during the 2nd quarter worth approximately $6,971,000.

Invesco KBW Bank ETF Company 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.