Redstone Wealth Management LLC Invests $11.52 Million in Invesco KBW Property & Casualty Insurance ETF $KBWP

Redstone Wealth Management LLC purchased a new position in shares of Invesco KBW Property & Casualty Insurance ETF (NASDAQ:KBWP) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 90,468 shares of the company’s stock, valued at approximately $11,516,000. Invesco KBW Property & Casualty Insurance ETF makes up about 9.1% of Redstone Wealth Management LLC’s investment portfolio, making the stock its 3rd biggest holding. Redstone Wealth Management LLC owned 3.95% of Invesco KBW Property & Casualty Insurance ETF at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. WFA of San Diego LLC bought a new position in shares of Invesco KBW Property & Casualty Insurance ETF during the second quarter worth $32,000. Flagship Harbor Advisors LLC bought a new position in shares of Invesco KBW Property & Casualty Insurance ETF during the fourth quarter worth $60,000. GGM Financials LLC bought a new position in shares of Invesco KBW Property & Casualty Insurance ETF during the third quarter worth $91,000. Sound Income Strategies LLC boosted its position in shares of Invesco KBW Property & Casualty Insurance ETF by 32,625.0% during the fourth quarter. Sound Income Strategies LLC now owns 1,309 shares of the company’s stock worth $159,000 after purchasing an additional 1,305 shares in the last quarter. Finally, NewEdge Advisors LLC bought a new position in shares of Invesco KBW Property & Casualty Insurance ETF during the third quarter worth $187,000.

Invesco KBW Property & Casualty Insurance ETF Price Performance

Shares of NASDAQ KBWP opened at $120.63 on Monday. The stock has a market cap of $254.53 million, a price-to-earnings ratio of 13.50 and a beta of 0.43. Invesco KBW Property & Casualty Insurance ETF has a twelve month low of $114.62 and a twelve month high of $129.00. The company’s fifty day moving average is $120.11 and its 200-day moving average is $122.64.

Invesco KBW Property & Casualty Insurance ETF Increases Dividend

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

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.