Invesco KBW Bank ETF (NASDAQ:KBWB) Sets New 52-Week High – Should You Buy?

Invesco KBW Bank ETF (NASDAQ:KBWB)’s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $63.38 and last traded at $63.24, with a volume of 232124 shares. The stock had previously closed at $62.94.

Invesco KBW Bank ETF Trading Up 0.1 %

The company has a market cap of $1.89 billion, a P/E ratio of 10.69 and a beta of 1.19. The business has a 50 day moving average price of $57.94 and a 200-day moving average price of $55.26.

Invesco KBW Bank ETF Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Monday, September 23rd were paid a dividend of $0.424 per share. The ex-dividend date was Monday, September 23rd. This represents a $1.70 dividend on an annualized basis and a dividend yield of 2.69%. This is a boost from Invesco KBW Bank ETF’s previous quarterly dividend of $0.40.

Institutional Investors Weigh In On Invesco KBW Bank ETF

Large investors have recently added to or reduced their stakes in the business. Principal Financial Group Inc. bought a new stake in Invesco KBW Bank ETF in the 2nd quarter valued at $1,306,000. Sanctuary Advisors LLC bought a new stake in Invesco KBW Bank ETF in the 2nd quarter valued at $547,000. Trust Co. of Vermont raised its stake in Invesco KBW Bank ETF by 105.3% in the 4th quarter. Trust Co. of Vermont now owns 616 shares of the company’s stock valued at $30,000 after acquiring an additional 316 shares during the period. PVG Asset Management Corp bought a new stake in Invesco KBW Bank ETF in the 2nd quarter valued at $417,000. Finally, RFG Holdings Inc. raised its stake in Invesco KBW Bank ETF by 65.3% in the 1st quarter. RFG Holdings Inc. now owns 177,868 shares of the company’s stock valued at $9,545,000 after acquiring an additional 70,247 shares during the period.

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.