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

Invesco KBW Bank ETF (NASDAQ:KBWB) shares reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $89.00 and last traded at $88.70, with a volume of 137955 shares changing hands. The stock had previously closed at $87.64.

Invesco KBW Bank ETF Stock Performance

The company has a market capitalization of $6.20 billion, a P/E ratio of 13.35 and a beta of 1.11. The company has a 50-day simple moving average of $84.60 and a 200 day simple moving average of $79.09.

Invesco KBW Bank ETF Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 26th. Investors of record on Monday, December 22nd were paid a dividend of $0.4442 per share. This represents a $1.78 annualized dividend and a yield of 2.0%. The ex-dividend date was Monday, December 22nd.

Institutional Trading of Invesco KBW Bank ETF

Several hedge funds and other institutional investors have recently bought and sold shares of KBWB. Allworth Financial LP raised its position in shares of Invesco KBW Bank ETF by 59.4% during the second quarter. Allworth Financial LP now owns 400 shares of the company’s stock valued at $29,000 after buying an additional 149 shares during the last quarter. UMB Bank n.a. acquired a new stake in Invesco KBW Bank ETF during the third quarter worth about $31,000. AE Wealth Management LLC increased its stake in Invesco KBW Bank ETF by 214.4% during the second quarter. AE Wealth Management LLC now owns 459 shares of the company’s stock valued at $33,000 after acquiring an additional 313 shares during the period. High Point Wealth Management LLC bought a new position in Invesco KBW Bank ETF during the fourth quarter valued at about $57,000. Finally, Comerica Bank raised its holdings in Invesco KBW Bank ETF by 58.3% in the 1st quarter. Comerica Bank now owns 1,189 shares of the company’s stock valued at $75,000 after acquiring an additional 438 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.