Invesco KBW Bank ETF (NASDAQ:KBWB) Sees Strong Trading Volume – Still a Buy?

Shares of Invesco KBW Bank ETF (NASDAQ:KBWB) saw an uptick in trading volume on Wednesday. Approximately 2,887,540 shares changed hands during trading, an increase of 44% from the previous session’s volume of 2,003,843 shares. The stock last traded at $84.7510 and had previously closed at $86.77.

Invesco KBW Bank ETF Price Performance

The company has a market cap of $6.07 billion, a P/E ratio of 13.35 and a beta of 1.05. The stock has a fifty day moving average price of $93.25 and a two-hundred day moving average price of $91.05.

Invesco KBW Bank ETF Cuts Dividend

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

Institutional Trading of Invesco KBW Bank ETF

A number of hedge funds have recently bought and sold shares of the business. Bank OZK purchased a new stake in shares of Invesco KBW Bank ETF during the 2nd quarter valued at $658,000. Envestnet Portfolio Solutions Inc. raised its stake in shares of Invesco KBW Bank ETF by 663.0% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 44,865 shares of the company’s stock worth $4,172,000 after purchasing an additional 38,985 shares during the period. Fifth Third Bancorp boosted its holdings in shares of Invesco KBW Bank ETF by 2,434.2% in the 1st quarter. Fifth Third Bancorp now owns 9,554 shares of the company’s stock worth $756,000 after buying an additional 9,177 shares during the last quarter. Central Pacific Bank Trust Division boosted its holdings in shares of Invesco KBW Bank ETF by 56.6% in the 3rd quarter. Central Pacific Bank Trust Division now owns 36,260 shares of the company’s stock worth $3,163,000 after buying an additional 13,105 shares during the last quarter. Finally, Puff Wealth Management LLC bought a new position in Invesco KBW Bank ETF during the second quarter valued at about $1,138,000.

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.