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

Invesco KBW Bank ETF (NASDAQ:KBWB)’s share price reached a new 52-week high on Wednesday . The stock traded as high as $99.48 and last traded at $99.40, with a volume of 705318 shares changing hands. The stock had previously closed at $98.26.

Invesco KBW Bank ETF Stock Performance

The stock has a 50-day moving average of $94.72 and a 200-day moving average of $87.77. The firm has a market cap of $6.99 billion, a price-to-earnings ratio of 13.35 and a beta of 1.02.

Invesco KBW Bank ETF Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Monday, June 22nd were issued a dividend of $0.4729 per share. This represents a $1.89 annualized dividend and a yield of 1.9%. The ex-dividend date was Monday, June 22nd.

Institutional Trading of Invesco KBW Bank ETF

A number of large investors have recently added to or reduced their stakes in KBWB. MKP Capital Management L.L.C. bought a new stake in shares of Invesco KBW Bank ETF during the fourth quarter worth approximately $8,429,000. Northwestern Mutual Wealth Management Co. increased its position in shares of Invesco KBW Bank ETF by 306.6% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 54,153 shares of the company’s stock worth $4,565,000 after purchasing an additional 40,834 shares during the period. Crown Wealth Group LLC acquired a new position in shares of Invesco KBW Bank ETF in the 4th quarter valued at approximately $5,750,000. Fisher Asset Management LLC raised its position in Invesco KBW Bank ETF by 9.3% during the fourth quarter. Fisher Asset Management LLC now owns 3,568,214 shares of the company’s stock valued at $300,765,000 after purchasing an additional 303,052 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Invesco KBW Bank ETF by 4.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,837,447 shares of the company’s stock worth $239,168,000 after buying an additional 121,744 shares in the last quarter.

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.