Invesco KBW Property & Casualty Insurance ETF (NASDAQ:KBWP) Short Interest Update

Invesco KBW Property & Casualty Insurance ETF (NASDAQ:KBWP) was the target of a significant increase in short interest in the month of March. As of March 13th, there was short interest totaling 33,639 shares, an increase of 498.5% from the February 26th total of 5,621 shares. Currently, 1.5% of the shares of the stock are sold short. Based on an average trading volume of 14,060 shares, the days-to-cover ratio is currently 2.4 days.

Institutional Trading of Invesco KBW Property & Casualty Insurance ETF

Several institutional investors have recently bought and sold shares of the stock. Redstone Wealth Management LLC acquired a new position in Invesco KBW Property & Casualty Insurance ETF during the fourth quarter worth $11,516,000. Raymond James Financial Inc. boosted its stake in shares of Invesco KBW Property & Casualty Insurance ETF by 180.0% in the 2nd quarter. Raymond James Financial Inc. now owns 100,177 shares of the company’s stock valued at $12,305,000 after purchasing an additional 64,399 shares in the last quarter. Kingsview Wealth Management LLC grew its holdings in shares of Invesco KBW Property & Casualty Insurance ETF by 69.4% in the 3rd quarter. Kingsview Wealth Management LLC now owns 133,586 shares of the company’s stock worth $16,522,000 after purchasing an additional 54,713 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Invesco KBW Property & Casualty Insurance ETF by 179.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 44,620 shares of the company’s stock worth $5,680,000 after purchasing an additional 28,627 shares in the last quarter. Finally, Virtue Capital Management LLC increased its position in shares of Invesco KBW Property & Casualty Insurance ETF by 1,299.4% during the 4th quarter. Virtue Capital Management LLC now owns 29,290 shares of the company’s stock worth $3,729,000 after purchasing an additional 27,197 shares in the last quarter.

Invesco KBW Property & Casualty Insurance ETF Stock Up 0.2%

KBWP traded up $0.23 during midday trading on Thursday, reaching $118.62. 17,742 shares of the company’s stock were exchanged, compared to its average volume of 18,487. The firm has a market capitalization of $271.64 million, a price-to-earnings ratio of 13.50 and a beta of 0.55. Invesco KBW Property & Casualty Insurance ETF has a one year low of $108.64 and a one year high of $129.00. The business has a 50-day simple moving average of $122.73 and a two-hundred day simple moving average of $122.76.

Invesco KBW Property & Casualty Insurance ETF Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Monday, March 23rd will be given a dividend of $0.9853 per share. This is a boost from Invesco KBW Property & Casualty Insurance ETF’s previous quarterly dividend of $0.60. The ex-dividend date is Monday, March 23rd. This represents a $3.94 annualized dividend and a dividend yield of 3.3%.

About Invesco KBW Property & Casualty Insurance ETF

The Invesco KBW Property & Casualty Insurance ETF (KBWP) is an exchange-traded fund that mostly invests in financials equity. The fund tracks a modified market-cap-weighted index focused exclusively on property & casualty insurance companies in the US. KBWP was launched on Dec 2, 2010 and is managed by Invesco.