Invesco KBW Bank ETF (NASDAQ:KBWB) Reaches New 52-Week High – Should You Buy?

Invesco KBW Bank ETF (NASDAQ:KBWB)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $88.26 and last traded at $88.4140, with a volume of 839648 shares changing hands. The stock had previously closed at $85.76.

Invesco KBW Bank ETF Stock Down 1.5%

The company has a market capitalization of $6.17 billion, a PE ratio of 13.35 and a beta of 1.11. The company has a 50-day moving average price of $81.07 and a two-hundred day moving average price of $77.27.

Invesco KBW Bank ETF Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 26th. Stockholders of record on Monday, December 22nd were issued a dividend of $0.4442 per share. The ex-dividend date of this dividend was Monday, December 22nd. This represents a $1.78 annualized dividend and a dividend yield of 2.0%.

Hedge Funds Weigh In On Invesco KBW Bank ETF

A number of hedge funds and other institutional investors have recently modified their holdings of KBWB. Astoria Portfolio Advisors LLC. bought a new stake in Invesco KBW Bank ETF during the 2nd quarter valued at $399,000. Fifth Third Bancorp purchased a new position in shares of Invesco KBW Bank ETF in the second quarter valued at about $31,000. Hazlett Burt & Watson Inc. increased its position in shares of Invesco KBW Bank ETF by 16.9% in the second quarter. Hazlett Burt & Watson Inc. now owns 26,959 shares of the company’s stock valued at $1,933,000 after acquiring an additional 3,902 shares during the period. Franklin Resources Inc. bought a new position in shares of Invesco KBW Bank ETF during the second quarter valued at about $538,000. Finally, Ameritas Advisory Services LLC bought a new position in shares of Invesco KBW Bank ETF during the second quarter valued at about $85,000.

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.