Sumitomo Life Insurance Co. Invests $137.59 Million in Invesco S&P 500 BuyWrite ETF $PBP

Sumitomo Life Insurance Co. bought a new stake in Invesco S&P 500 BuyWrite ETF (NYSEARCA:PBP) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 6,220,000 shares of the company’s stock, valued at approximately $137,586,000. Invesco S&P 500 BuyWrite ETF comprises about 4.3% of Sumitomo Life Insurance Co.’s portfolio, making the stock its 4th biggest holding. Sumitomo Life Insurance Co. owned 0.46% of Invesco S&P 500 BuyWrite ETF as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. MAI Capital Management raised its holdings in shares of Invesco S&P 500 BuyWrite ETF by 21.6% in the 2nd quarter. MAI Capital Management now owns 423,165 shares of the company’s stock worth $9,250,000 after purchasing an additional 75,071 shares during the period. Envestnet Asset Management Inc. grew its holdings in shares of Invesco S&P 500 BuyWrite ETF by 71.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 100,421 shares of the company’s stock worth $2,195,000 after purchasing an additional 41,964 shares during the period. Mount Lucas Management LP increased its position in Invesco S&P 500 BuyWrite ETF by 7.4% during the 2nd quarter. Mount Lucas Management LP now owns 119,538 shares of the company’s stock worth $2,613,000 after purchasing an additional 8,269 shares in the last quarter. Thrivent Financial for Lutherans purchased a new position in Invesco S&P 500 BuyWrite ETF in the second quarter valued at approximately $1,958,000. Finally, Ameriprise Financial Inc. raised its holdings in Invesco S&P 500 BuyWrite ETF by 6.0% in the second quarter. Ameriprise Financial Inc. now owns 66,328 shares of the company’s stock valued at $1,450,000 after buying an additional 3,781 shares during the period.

Invesco S&P 500 BuyWrite ETF Stock Up 0.7%

Shares of PBP stock opened at $22.94 on Thursday. Invesco S&P 500 BuyWrite ETF has a fifty-two week low of $19.41 and a fifty-two week high of $23.62. The firm’s 50 day moving average price is $22.88 and its two-hundred day moving average price is $22.56. The stock has a market cap of $332.63 million, a price-to-earnings ratio of 25.96 and a beta of 0.53.

Invesco S&P 500 BuyWrite ETF Increases Dividend

The firm also recently announced a monthly dividend, which was paid on Friday, January 23rd. Investors of record on Tuesday, January 20th were issued a dividend of $0.2127 per share. This represents a c) annualized dividend and a dividend yield of 11.1%. The ex-dividend date was Tuesday, January 20th. This is a positive change from Invesco S&P 500 BuyWrite ETF’s previous monthly dividend of $0.18.

About Invesco S&P 500 BuyWrite ETF

The Invesco S&P 500 BuyWrite ETF (PBP) is an exchange-traded fund that is based on the Cboe S&P 500 BuyWrite index. The fund tracks an index that uses a covered-call strategy to provide long exposure to the S&P 500 and selling call options thereon. PBP was launched on Dec 20, 2007 and is managed by Invesco.