Invesco KBW Bank ETF (NASDAQ:KBWB) Sets New 12-Month High – Still a Buy?

Shares of Invesco KBW Bank ETF (NASDAQ:KBWB) reached a new 52-week high during trading on Friday . The stock traded as high as $70.21 and last traded at $70.14, with a volume of 113902 shares. The stock had previously closed at $69.54.

Invesco KBW Bank ETF Stock Performance

The company’s 50 day moving average price is $62.25 and its 200 day moving average price is $57.68. The company has a market cap of $2.16 billion, a price-to-earnings ratio of 10.69 and a beta of 1.19.

Invesco KBW Bank ETF Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Monday, September 23rd were issued a dividend of $0.424 per share. This is a positive change from Invesco KBW Bank ETF’s previous quarterly dividend of $0.40. This represents a $1.70 annualized dividend and a yield of 2.40%. The ex-dividend date of this dividend was Monday, September 23rd.

Institutional Investors Weigh In On Invesco KBW Bank ETF

Large investors have recently added to or reduced their stakes in the stock. Fiduciary Trust Co acquired a new stake in shares of Invesco KBW Bank ETF in the third quarter worth $27,113,000. Wharton Business Group LLC raised its holdings in Invesco KBW Bank ETF by 27.4% in the 3rd quarter. Wharton Business Group LLC now owns 1,987,535 shares of the company’s stock worth $116,489,000 after acquiring an additional 427,872 shares during the period. Fisher Asset Management LLC lifted its position in Invesco KBW Bank ETF by 11.6% during the 3rd quarter. Fisher Asset Management LLC now owns 2,529,651 shares of the company’s stock worth $148,263,000 after acquiring an additional 262,800 shares during the last quarter. Good Life Advisors LLC bought a new stake in Invesco KBW Bank ETF during the third quarter valued at about $7,819,000. Finally, Valley Wealth Managers Inc. bought a new stake in Invesco KBW Bank ETF during the second quarter valued at about $6,971,000.

Invesco KBW Bank ETF Company 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.