Invesco KBW Bank ETF (NASDAQ:KBWB) Sees Unusually-High Trading Volume – Here’s What Happened

Shares of Invesco KBW Bank ETF (NASDAQ:KBWB) saw unusually-strong trading volume on Wednesday. 4,261,690 shares traded hands during trading, an increase of 109% from the previous session’s volume of 2,042,681 shares. The stock last traded at $87.8570 and had previously closed at $87.08.

Invesco KBW Bank ETF Price Performance

The stock has a market capitalization of $6.25 billion, a P/E ratio of 13.35 and a beta of 1.05. The company has a 50 day simple moving average of $92.57 and a 200-day simple moving average of $91.22.

Invesco KBW Bank ETF Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 25th. Shareholders of record on Monday, September 21st were issued a dividend of $0.4601 per share. This represents a $1.84 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend was Monday, September 21st. This is a drop from Invesco KBW Bank ETF’s previous quarterly dividend of $0.4729.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Sowell Financial Services LLC lifted its stake in Invesco KBW Bank ETF by 5.4% in the third quarter. Sowell Financial Services LLC now owns 16,987 shares of the company’s stock worth $1,482,000 after acquiring an additional 871 shares during the period. Oregon Pacific Wealth Management LLC grew its stake in shares of Invesco KBW Bank ETF by 33.0% in the 3rd quarter. Oregon Pacific Wealth Management LLC now owns 16,063 shares of the company’s stock worth $1,401,000 after buying an additional 3,985 shares during the last quarter. Crown Wealth Group LLC boosted its stake in Invesco KBW Bank ETF by 1,244.3% in the 3rd quarter. Crown Wealth Group LLC now owns 37,909 shares of the company’s stock worth $3,307,000 after purchasing an additional 35,089 shares in the last quarter. Robertson Stephens Wealth Management LLC grew its holdings in shares of Invesco KBW Bank ETF by 1.6% during the third quarter. Robertson Stephens Wealth Management LLC now owns 13,301 shares of the company’s stock valued at $1,160,000 after buying an additional 212 shares during the last quarter. Finally, Vontobel Holding Ltd. bought a new stake in Invesco KBW Bank ETF in the 3rd quarter worth about $1,533,000.

About Invesco KBW Bank ETF

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.