Invesco KBW Bank ETF (NASDAQ:KBWB) Hits New 12-Month High – What’s Next?

Shares of Invesco KBW Bank ETF (NASDAQ:KBWB) hit a new 52-week high during trading on Tuesday . The stock traded as high as $97.76 and last traded at $97.67, with a volume of 168086 shares trading hands. The stock had previously closed at $95.96.

Invesco KBW Bank ETF Stock Up 2.1%

The company has a market cap of $6.90 billion, a P/E ratio of 13.35 and a beta of 1.01. The stock’s 50-day moving average price is $89.93 and its 200 day moving average price is $86.17.

Invesco KBW Bank ETF Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Monday, June 22nd were issued a dividend of $0.4729 per share. This represents a $1.89 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date was Monday, June 22nd.

Hedge Funds Weigh In On Invesco KBW Bank ETF

Institutional investors have recently made changes to their positions in the business. Sowell Financial Services LLC acquired a new stake in Invesco KBW Bank ETF in the 4th quarter valued at approximately $1,012,000. Altfest L J & Co. Inc. acquired a new position in shares of Invesco KBW Bank ETF during the fourth quarter worth approximately $7,065,000. Crown Wealth Group LLC acquired a new position in shares of Invesco KBW Bank ETF during the fourth quarter worth approximately $5,750,000. Synergy Asset Management LLC acquired a new position in shares of Invesco KBW Bank ETF during the fourth quarter worth approximately $2,087,000. Finally, Northwestern Mutual Wealth Management Co. boosted its position in shares of Invesco KBW Bank ETF by 306.6% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 54,153 shares of the company’s stock valued at $4,565,000 after acquiring an additional 40,834 shares during the period.

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.