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

Shares of Invesco KBW Bank ETF (NASDAQ:KBWB) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $95.63 and last traded at $95.46, with a volume of 873981 shares. The stock had previously closed at $93.73.

Invesco KBW Bank ETF Trading Up 1.0%

The company has a market capitalization of $5.98 billion, a price-to-earnings ratio of 13.35 and a beta of 1.02. The stock has a 50-day simple moving average of $87.82 and a 200-day simple moving average of $85.21.

Invesco KBW Bank ETF Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Monday, June 22nd will be issued a $0.4729 dividend. The ex-dividend date of this dividend is Monday, June 22nd. This represents a $1.89 annualized dividend and a yield of 2.0%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. North Star Investment Management Corp. bought a new stake in shares of Invesco KBW Bank ETF in the 1st quarter worth about $29,000. IFP Advisors Inc bought a new position in shares of Invesco KBW Bank ETF during the fourth quarter worth about $35,000. Private Wealth Management Group LLC bought a new position in shares of Invesco KBW Bank ETF during the first quarter worth about $40,000. Allworth Financial LP grew its stake in Invesco KBW Bank ETF by 31.5% in the fourth quarter. Allworth Financial LP now owns 522 shares of the company’s stock worth $44,000 after purchasing an additional 125 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its stake in Invesco KBW Bank ETF by 970.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 535 shares of the company’s stock worth $45,000 after purchasing an additional 485 shares in the last quarter.

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.