Valley Wealth Managers Inc. Reduces Stock Position in Invesco KBW Bank ETF $KBWB

Valley Wealth Managers Inc. lessened its stake in Invesco KBW Bank ETF (NASDAQ:KBWB) by 29.5% in the first quarter, HoldingsChannel reports. The firm owned 118,073 shares of the company’s stock after selling 49,394 shares during the period. Valley Wealth Managers Inc.’s holdings in Invesco KBW Bank ETF were worth $9,342,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in KBWB. Independent Financial Group LLC bought a new position in shares of Invesco KBW Bank ETF during the 1st quarter valued at $605,000. Bank of New York Mellon Corp grew its holdings in shares of Invesco KBW Bank ETF by 1.9% in the first quarter. Bank of New York Mellon Corp now owns 76,252 shares of the company’s stock worth $6,033,000 after acquiring an additional 1,403 shares during the period. Principal Financial Group Inc. increased its position in Invesco KBW Bank ETF by 36.6% during the first quarter. Principal Financial Group Inc. now owns 59,032 shares of the company’s stock valued at $4,671,000 after acquiring an additional 15,809 shares during the last quarter. Fifth Third Bancorp increased its position in Invesco KBW Bank ETF by 2,434.2% during the first quarter. Fifth Third Bancorp now owns 9,554 shares of the company’s stock valued at $756,000 after acquiring an additional 9,177 shares during the last quarter. Finally, Kestra Advisory Services LLC lifted its holdings in Invesco KBW Bank ETF by 81.3% in the first quarter. Kestra Advisory Services LLC now owns 18,303 shares of the company’s stock valued at $1,448,000 after acquiring an additional 8,206 shares during the period.

Invesco KBW Bank ETF Stock Performance

Shares of NASDAQ:KBWB opened at $96.92 on Friday. The stock has a market capitalization of $7.04 billion, a price-to-earnings ratio of 13.35 and a beta of 1.01. The stock’s 50-day simple moving average is $90.85 and its two-hundred day simple moving average is $86.48. Invesco KBW Bank ETF has a 52-week low of $70.68 and a 52-week high of $98.97.

Invesco KBW Bank ETF Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Monday, June 22nd were paid a $0.4729 dividend. This represents a $1.89 annualized dividend and a dividend yield of 2.0%. The ex-dividend date was Monday, June 22nd.

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.