33,019 Shares in Invesco KBW Bank ETF (NASDAQ:KBWB) Purchased by Pinnacle Wealth Management Group Inc.

Pinnacle Wealth Management Group Inc. acquired a new position in Invesco KBW Bank ETF (NASDAQ:KBWB) in the first quarter, HoldingsChannel.com reports. The institutional investor acquired 33,019 shares of the company’s stock, valued at approximately $2,073,000. Invesco KBW Bank ETF accounts for 1.4% of Pinnacle Wealth Management Group Inc.’s portfolio, making the stock its 23rd largest holding.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in KBWB. Robertson Stephens Wealth Management LLC grew its position in shares of Invesco KBW Bank ETF by 1.7% during the 4th quarter. Robertson Stephens Wealth Management LLC now owns 10,504 shares of the company’s stock worth $686,000 after buying an additional 173 shares during the period. Wilmington Savings Fund Society FSB grew its holdings in Invesco KBW Bank ETF by 6.4% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 4,385 shares of the company’s stock valued at $287,000 after purchasing an additional 264 shares during the period. Integrated Wealth Concepts LLC grew its holdings in Invesco KBW Bank ETF by 6.5% during the fourth quarter. Integrated Wealth Concepts LLC now owns 5,283 shares of the company’s stock valued at $345,000 after purchasing an additional 324 shares during the period. Addison Advisors LLC grew its holdings in shares of Invesco KBW Bank ETF by 1.7% in the 4th quarter. Addison Advisors LLC now owns 28,679 shares of the company’s stock valued at $1,874,000 after buying an additional 485 shares during the period. Finally, Cerity Partners LLC grew its holdings in shares of Invesco KBW Bank ETF by 12.5% in the 4th quarter. Cerity Partners LLC now owns 5,649 shares of the company’s stock valued at $369,000 after buying an additional 627 shares during the period.

Invesco KBW Bank ETF Stock Up 0.2%

Shares of KBWB stock opened at $65.91 on Friday. Invesco KBW Bank ETF has a 12-month low of $51.13 and a 12-month high of $72.39. The firm has a market capitalization of $3.83 billion, a price-to-earnings ratio of 12.26 and a beta of 1.19. The firm has a fifty day moving average of $61.41 and a 200-day moving average of $65.50.

Invesco KBW Bank ETF Increases Dividend

The firm also recently announced a dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 24th were paid a $0.4118 dividend. This is a boost from Invesco KBW Bank ETF’s previous dividend of $0.36. The ex-dividend date was Monday, March 24th.

Invesco KBW Bank ETF 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.