Invesco KBW Bank ETF (NASDAQ:KBWB) Hits New 12-Month High – Time to Buy?

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

Invesco KBW Bank ETF Stock Down 1.1%

The stock has a 50-day moving average price of $85.01 and a 200 day moving average price of $79.26. The firm has a market capitalization of $6.24 billion, a price-to-earnings ratio of 13.35 and a beta of 1.11.

Invesco KBW Bank ETF Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 26th. Stockholders of record on Monday, December 22nd were issued a $0.4442 dividend. This represents a $1.78 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend was Monday, December 22nd.

Hedge Funds Weigh In On Invesco KBW Bank ETF

Large investors have recently modified their holdings of the business. Comerica Bank increased its position in Invesco KBW Bank ETF by 58.3% during the first quarter. Comerica Bank now owns 1,189 shares of the company’s stock worth $75,000 after purchasing an additional 438 shares during the last quarter. Jones Financial Companies Lllp grew its holdings in Invesco KBW Bank ETF by 130.5% during the 1st quarter. Jones Financial Companies Lllp now owns 6,630 shares of the company’s stock valued at $416,000 after purchasing an additional 3,754 shares in the last quarter. Janney Montgomery Scott LLC boosted its holdings in Invesco KBW Bank ETF by 2.1% in the second quarter. Janney Montgomery Scott LLC now owns 14,086 shares of the company’s stock valued at $1,009,000 after purchasing an additional 289 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in Invesco KBW Bank ETF during the 2nd quarter worth $887,000. Finally, Ameritas Advisory Services LLC acquired a new position in shares of Invesco KBW Bank ETF in the 2nd quarter worth approximately $85,000.

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.