Northwestern Mutual Wealth Management Co. Buys 300,290 Shares of Invesco KBW Bank ETF $KBWB

Northwestern Mutual Wealth Management Co. grew its stake in Invesco KBW Bank ETF (NASDAQ:KBWB) by 2,254.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 313,609 shares of the company’s stock after purchasing an additional 300,290 shares during the period. Northwestern Mutual Wealth Management Co. owned approximately 0.44% of Invesco KBW Bank ETF worth $26,434,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of KBWB. Comerica Bank lifted its stake in shares of Invesco KBW Bank ETF by 58.3% during the 1st quarter. Comerica Bank now owns 1,189 shares of the company’s stock worth $75,000 after acquiring an additional 438 shares during the last quarter. Jones Financial Companies Lllp lifted its stake in shares of Invesco KBW Bank ETF by 130.5% during the 1st quarter. Jones Financial Companies Lllp now owns 6,630 shares of the company’s stock worth $416,000 after acquiring an additional 3,754 shares during the last quarter. NewEdge Advisors LLC lifted its stake in shares of Invesco KBW Bank ETF by 63.9% during the 2nd quarter. NewEdge Advisors LLC now owns 6,546 shares of the company’s stock worth $469,000 after acquiring an additional 2,553 shares during the last quarter. Quantinno Capital Management LP lifted its stake in shares of Invesco KBW Bank ETF by 2.8% during the 2nd quarter. Quantinno Capital Management LP now owns 41,976 shares of the company’s stock worth $3,006,000 after acquiring an additional 1,139 shares during the last quarter. Finally, BTG Pactual Asset Management US LLC bought a new stake in shares of Invesco KBW Bank ETF during the 2nd quarter worth approximately $82,000.

Invesco KBW Bank ETF Stock Performance

Shares of KBWB stock opened at $83.59 on Wednesday. Invesco KBW Bank ETF has a 52-week low of $63.59 and a 52-week high of $91.43. The firm has a market capitalization of $5.27 billion, a P/E ratio of 13.35 and a beta of 1.04. The stock has a 50 day moving average price of $82.41 and a 200 day moving average price of $83.02.

Invesco KBW Bank ETF Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Monday, March 23rd were paid a dividend of $0.4898 per share. The ex-dividend date of this dividend was Monday, March 23rd. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.3%. This is an increase from Invesco KBW Bank ETF’s previous quarterly dividend of $0.44.

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.