Short Interest in Invesco KBW Property & Casualty Insurance ETF (NASDAQ:KBWP) Expands By 498.5%

Invesco KBW Property & Casualty Insurance ETF (NASDAQ:KBWP) saw a large growth in short interest in the month of March. As of March 13th, there was short interest totaling 33,639 shares, a growth of 498.5% from the February 26th total of 5,621 shares. Based on an average trading volume of 14,060 shares, the days-to-cover ratio is presently 2.4 days. Approximately 1.5% of the shares of the company are sold short. Approximately 1.5% of the shares of the company are sold short. Based on an average trading volume of 14,060 shares, the days-to-cover ratio is presently 2.4 days.

Hedge Funds Weigh In On Invesco KBW Property & Casualty Insurance ETF

Several institutional investors and hedge funds have recently modified their holdings of the stock. Redstone Wealth Management LLC acquired a new stake in shares of Invesco KBW Property & Casualty Insurance ETF during the 4th quarter worth about $11,516,000. Raymond James Financial Inc. grew its stake in Invesco KBW Property & Casualty Insurance ETF by 180.0% in the 2nd quarter. Raymond James Financial Inc. now owns 100,177 shares of the company’s stock valued at $12,305,000 after buying an additional 64,399 shares during the last quarter. Kingsview Wealth Management LLC grew its stake in Invesco KBW Property & Casualty Insurance ETF by 69.4% in the 3rd quarter. Kingsview Wealth Management LLC now owns 133,586 shares of the company’s stock valued at $16,522,000 after buying an additional 54,713 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in Invesco KBW Property & Casualty Insurance ETF by 179.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 44,620 shares of the company’s stock valued at $5,680,000 after buying an additional 28,627 shares during the last quarter. Finally, Virtue Capital Management LLC raised its holdings in Invesco KBW Property & Casualty Insurance ETF by 1,299.4% in the 4th quarter. Virtue Capital Management LLC now owns 29,290 shares of the company’s stock valued at $3,729,000 after acquiring an additional 27,197 shares during the period.

Invesco KBW Property & Casualty Insurance ETF Stock Down 1.1%

Shares of KBWP stock traded down $1.37 during trading on Wednesday, reaching $117.96. 3,736 shares of the company’s stock were exchanged, compared to its average volume of 18,168. Invesco KBW Property & Casualty Insurance ETF has a twelve month low of $108.64 and a twelve month high of $129.00. The firm’s fifty day moving average price is $122.88 and its 200-day moving average price is $122.82. The stock has a market capitalization of $270.13 million, a PE ratio of 13.50 and a beta of 0.55.

Invesco KBW Property & Casualty Insurance ETF Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Monday, March 23rd will be given a dividend of $0.9853 per share. This represents a $3.94 dividend on an annualized basis and a yield of 3.3%. This is a positive change from Invesco KBW Property & Casualty Insurance ETF’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Monday, March 23rd.

Invesco KBW Property & Casualty Insurance ETF Company Profile

The Invesco KBW Property & Casualty Insurance ETF (KBWP) is an exchange-traded fund that mostly invests in financials equity. The fund tracks a modified market-cap-weighted index focused exclusively on property & casualty insurance companies in the US. KBWP was launched on Dec 2, 2010 and is managed by Invesco.