Migdal Insurance & Financial Holdings Ltd. Sells 1,902,000 Shares of Invesco KBW Bank ETF $KBWB

Migdal Insurance & Financial Holdings Ltd. reduced its stake in Invesco KBW Bank ETF (NASDAQ:KBWB) by 34.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,693,000 shares of the company’s stock after selling 1,902,000 shares during the period. Invesco KBW Bank ETF makes up 3.1% of Migdal Insurance & Financial Holdings Ltd.’s portfolio, making the stock its 12th largest holding. Migdal Insurance & Financial Holdings Ltd. owned approximately 5.00% of Invesco KBW Bank ETF worth $288,830,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Harel Insurance Investments & Financial Services Ltd. raised its holdings in shares of Invesco KBW Bank ETF by 83.8% during the 3rd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 4,177,620 shares of the company’s stock worth $326,732,000 after acquiring an additional 1,905,000 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Invesco KBW Bank ETF by 117.7% during the second quarter. JPMorgan Chase & Co. now owns 3,503,711 shares of the company’s stock valued at $250,936,000 after purchasing an additional 1,894,483 shares in the last quarter. Menora Mivtachim Holdings LTD. lifted its holdings in shares of Invesco KBW Bank ETF by 107.4% in the 2nd quarter. Menora Mivtachim Holdings LTD. now owns 3,085,450 shares of the company’s stock valued at $220,980,000 after acquiring an additional 1,597,450 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd grew its position in Invesco KBW Bank ETF by 23.3% in the second quarter. Clal Insurance Enterprises Holdings Ltd now owns 4,370,000 shares of the company’s stock worth $312,979,000 after acquiring an additional 825,000 shares in the last quarter. Finally, Meitav Investment House Ltd. increased its stake in Invesco KBW Bank ETF by 1,409.0% during the third quarter. Meitav Investment House Ltd. now owns 610,455 shares of the company’s stock worth $47,623,000 after acquiring an additional 570,000 shares during the last quarter.

Invesco KBW Bank ETF Price Performance

NASDAQ:KBWB opened at $84.70 on Wednesday. The firm has a market capitalization of $6.12 billion, a price-to-earnings ratio of 13.35 and a beta of 1.11. The business has a 50 day simple moving average of $82.91 and a 200-day simple moving average of $78.30. Invesco KBW Bank ETF has a 1 year low of $51.13 and a 1 year high of $88.84.

Invesco KBW Bank ETF Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 26th. Stockholders of record on Monday, December 22nd were paid a $0.4442 dividend. The ex-dividend date of this dividend was Monday, December 22nd. This represents a $1.78 annualized dividend and a dividend yield of 2.1%.

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.