Sumitomo Life Insurance Co. Buys New Position in Invesco S&P 500 BuyWrite ETF $PBP

Sumitomo Life Insurance Co. purchased a new position in shares of Invesco S&P 500 BuyWrite ETF (NYSEARCA:PBP) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 6,220,000 shares of the company’s stock, valued at approximately $137,586,000. Invesco S&P 500 BuyWrite ETF comprises 4.3% of Sumitomo Life Insurance Co.’s holdings, making the stock its 4th biggest holding. Sumitomo Life Insurance Co. owned about 46.07% of Invesco S&P 500 BuyWrite ETF as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Founders Financial Alliance LLC purchased a new position in shares of Invesco S&P 500 BuyWrite ETF during the third quarter worth approximately $47,000. GPS Wealth Strategies Group LLC acquired a new stake in Invesco S&P 500 BuyWrite ETF during the 3rd quarter worth $55,000. OneDigital Investment Advisors LLC grew its position in Invesco S&P 500 BuyWrite ETF by 5.6% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 9,755 shares of the company’s stock worth $216,000 after purchasing an additional 515 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its stake in Invesco S&P 500 BuyWrite ETF by 8.8% in the third quarter. Envestnet Portfolio Solutions Inc. now owns 10,883 shares of the company’s stock valued at $241,000 after purchasing an additional 882 shares during the period. Finally, Dynamic Advisor Solutions LLC increased its stake in Invesco S&P 500 BuyWrite ETF by 7.8% in the third quarter. Dynamic Advisor Solutions LLC now owns 13,854 shares of the company’s stock valued at $306,000 after purchasing an additional 1,002 shares during the period.

Invesco S&P 500 BuyWrite ETF Stock Performance

Shares of PBP opened at $22.94 on Thursday. The company has a market capitalization of $332.63 million, a price-to-earnings ratio of 25.96 and a beta of 0.53. Invesco S&P 500 BuyWrite ETF has a fifty-two week low of $19.41 and a fifty-two week high of $23.62. The firm has a 50-day simple moving average of $22.88 and a 200-day simple moving average of $22.56.

Invesco S&P 500 BuyWrite ETF Increases Dividend

The business also recently announced a monthly dividend, which was paid on Friday, January 23rd. Stockholders of record on Tuesday, January 20th were issued a $0.2127 dividend. The ex-dividend date of this dividend was Tuesday, January 20th. This is an increase from Invesco S&P 500 BuyWrite ETF’s previous monthly dividend of $0.18. This represents a c) dividend on an annualized basis and a dividend yield of 11.1%.

About Invesco S&P 500 BuyWrite ETF

The Invesco S&P 500 BuyWrite ETF (PBP) is an exchange-traded fund that is based on the Cboe S&P 500 BuyWrite index. The fund tracks an index that uses a covered-call strategy to provide long exposure to the S&P 500 and selling call options thereon. PBP was launched on Dec 20, 2007 and is managed by Invesco.