Invesco KBW Property & Casualty Insurance ETF (NASDAQ:KBWP) Sees Significant Decline in Short Interest

Invesco KBW Property & Casualty Insurance ETF (NASDAQ:KBWP) saw a large drop in short interest during the month of September. As of September 30th, there was short interest totaling 12,578 shares, a drop of 49.7% from the September 15th total of 25,001 shares. Based on an average daily trading volume, of 9,556 shares, the days-to-cover ratio is presently 1.3 days. Approximately 0.6% of the shares of the company are short sold.

Invesco KBW Property & Casualty Insurance ETF Stock Up 1.9%

Shares of KBWP stock traded up $2.48 on Thursday, hitting $131.07. The company had a trading volume of 9,628 shares, compared to its average volume of 16,492. Invesco KBW Property & Casualty Insurance ETF has a twelve month low of $114.62 and a twelve month high of $140.37. The company has a 50-day moving average price of $130.16 and a 200-day moving average price of $126.24. The firm has a market cap of $288.35 million, a P/E ratio of 13.50 and a beta of 0.37.

Invesco KBW Property & Casualty Insurance ETF Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Monday, September 21st were given a dividend of $0.3599 per share. This is a negative change from Invesco KBW Property & Casualty Insurance ETF’s previous quarterly dividend of $0.4994. The ex-dividend date was Monday, September 21st. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.1%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Redstone Wealth Management LLC increased its stake in shares of Invesco KBW Property & Casualty Insurance ETF by 0.6% in the 1st quarter. Redstone Wealth Management LLC now owns 91,046 shares of the company’s stock worth $10,833,000 after acquiring an additional 578 shares during the last quarter. Cetera Investment Advisers lifted its holdings in Invesco KBW Property & Casualty Insurance ETF by 15.6% in the first quarter. Cetera Investment Advisers now owns 62,098 shares of the company’s stock valued at $7,389,000 after acquiring an additional 8,381 shares during the last quarter. Kestra Advisory Services LLC grew its position in Invesco KBW Property & Casualty Insurance ETF by 2.8% in the first quarter. Kestra Advisory Services LLC now owns 16,600 shares of the company’s stock worth $1,975,000 after acquiring an additional 448 shares during the period. Vanguard Capital Wealth Advisors purchased a new position in Invesco KBW Property & Casualty Insurance ETF in the second quarter worth approximately $659,000. Finally, NewEdge Advisors LLC increased its stake in Invesco KBW Property & Casualty Insurance ETF by 22.8% during the second quarter. NewEdge Advisors LLC now owns 4,924 shares of the company’s stock worth $624,000 after acquiring an additional 913 shares during the last quarter.

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.