Invesco KBW Property & Casualty Insurance ETF (NASDAQ:KBWP) Stock Short Interest Climbs 166.1%

Invesco KBW Property & Casualty Insurance ETF (NASDAQ:KBWP) was the recipient of a significant increase in short interest in September. As of September 15th, there was short interest totaling 25,001 shares, an increase of 166.1% from the August 31st total of 9,396 shares. Approximately 1.1% of the company’s stock are sold short. Based on an average daily volume of 17,716 shares, the days-to-cover ratio is presently 1.4 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Redstone Wealth Management LLC increased its stake in shares of Invesco KBW Property & Casualty Insurance ETF by 0.6% during the 1st quarter. Redstone Wealth Management LLC now owns 91,046 shares of the company’s stock worth $10,833,000 after purchasing an additional 578 shares during the last quarter. Cetera Investment Advisers grew its holdings in Invesco KBW Property & Casualty Insurance ETF by 15.6% during the first quarter. Cetera Investment Advisers now owns 62,098 shares of the company’s stock worth $7,389,000 after purchasing an additional 8,381 shares during the period. RM Financial Services LLC bought a new position in Invesco KBW Property & Casualty Insurance ETF during the fourth quarter worth about $2,991,000. Kestra Advisory Services LLC increased its position in Invesco KBW Property & Casualty Insurance ETF by 2.8% during the first quarter. Kestra Advisory Services LLC now owns 16,600 shares of the company’s stock worth $1,975,000 after buying an additional 448 shares during the last quarter. Finally, Vanguard Capital Wealth Advisors acquired a new position in Invesco KBW Property & Casualty Insurance ETF during the second quarter worth approximately $659,000.

Invesco KBW Property & Casualty Insurance ETF Stock Up 0.3%

Shares of Invesco KBW Property & Casualty Insurance ETF stock opened at $123.83 on Friday. The stock has a market cap of $274.91 million, a P/E ratio of 13.50 and a beta of 0.38. Invesco KBW Property & Casualty Insurance ETF has a 12-month low of $114.62 and a 12-month high of $140.37. The business’s 50 day moving average is $132.72 and its 200-day moving average is $125.75.

Invesco KBW Property & Casualty Insurance ETF Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 25th. Shareholders of record on Monday, September 21st were given a dividend of $0.3599 per share. This represents a $1.44 annualized dividend and a yield of 1.2%. This is a decrease from Invesco KBW Property & Casualty Insurance ETF’s previous quarterly dividend of $0.4994. The ex-dividend date of this dividend was Monday, September 21st.

About Invesco KBW Property & Casualty Insurance ETF

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.