SOL Capital Management CO Trims Stock Position in Invesco KBW Bank ETF (NASDAQ:KBWB)

SOL Capital Management CO lessened its position in Invesco KBW Bank ETF (NASDAQ:KBWB) by 5.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 292,978 shares of the company’s stock after selling 16,626 shares during the quarter. Invesco KBW Bank ETF accounts for approximately 1.9% of SOL Capital Management CO’s portfolio, making the stock its 10th largest holding. SOL Capital Management CO owned about 0.96% of Invesco KBW Bank ETF worth $17,171,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Good Life Advisors LLC bought a new position in Invesco KBW Bank ETF in the third quarter valued at $7,819,000. Magnus Financial Group LLC increased its stake in Invesco KBW Bank ETF by 132.8% in the third quarter. Magnus Financial Group LLC now owns 12,292 shares of the company’s stock valued at $720,000 after acquiring an additional 7,013 shares during the last quarter. RFG Holdings Inc. increased its stake in Invesco KBW Bank ETF by 4.3% in the third quarter. RFG Holdings Inc. now owns 202,888 shares of the company’s stock valued at $11,893,000 after acquiring an additional 8,353 shares during the last quarter. Verde Servicos Internacionais S.A. purchased a new stake in Invesco KBW Bank ETF during the third quarter valued at about $5,093,000. Finally, Sanctuary Advisors LLC purchased a new stake in Invesco KBW Bank ETF during the second quarter valued at about $547,000.

Invesco KBW Bank ETF Stock Up 0.3 %

NASDAQ KBWB opened at $62.34 on Thursday. The company has a 50-day simple moving average of $58.70 and a two-hundred day simple moving average of $55.61. Invesco KBW Bank ETF has a 12-month low of $36.51 and a 12-month high of $63.38. The firm has a market cap of $1.91 billion, a price-to-earnings ratio of 10.69 and a beta of 1.19.

Invesco KBW Bank ETF Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Monday, September 23rd were given a dividend of $0.424 per share. This represents a $1.70 annualized dividend and a yield of 2.72%. This is a positive change from Invesco KBW Bank ETF’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Monday, September 23rd.

Invesco KBW Bank ETF Profile

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.