Invesco KBW Bank ETF (NASDAQ:KBWB) Stock Price Breaks Below 200 Day Moving Average – Here’s What Happened

Invesco KBW Bank ETF (NASDAQ:KBWB)’s share price passed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $88.96 and traded as low as $87.65. Invesco KBW Bank ETF shares last traded at $88.03, with a volume of 3,582,032 shares traded.

Invesco KBW Bank ETF Stock Down 3.5%

The company’s 50 day simple moving average is $90.49 and its 200-day simple moving average is $88.96. The firm has a market cap of $6.75 billion, a P/E ratio of 12.89 and a beta of 1.05.

Invesco KBW Bank ETF Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 25th. Investors 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 was Monday, September 21st. This is a decrease from Invesco KBW Bank ETF’s previous quarterly dividend of $0.4729.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in KBWB. Allworth Financial LP lifted its position in shares of Invesco KBW Bank ETF by 25.0% in the 2nd quarter. Allworth Financial LP now owns 665 shares of the company’s stock worth $62,000 after purchasing an additional 133 shares during the period. Lynx Investment Advisory increased its holdings in Invesco KBW Bank ETF by 7.8% during the third quarter. Lynx Investment Advisory now owns 2,484 shares of the company’s stock valued at $217,000 after buying an additional 179 shares during the period. City Center Advisors LLC increased its holdings in Invesco KBW Bank ETF by 2.3% during the second quarter. City Center Advisors LLC now owns 8,567 shares of the company’s stock valued at $797,000 after buying an additional 189 shares during the period. Robertson Stephens Wealth Management LLC increased its holdings in 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 period. Finally, Choreo LLC raised its stake in Invesco KBW Bank ETF by 9.8% in the third quarter. Choreo LLC now owns 3,014 shares of the company’s stock worth $263,000 after buying an additional 268 shares in the last quarter.

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.