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

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

Invesco KBW Bank ETF Trading Down 0.3 %

The company has a market cap of $1.88 billion, a price-to-earnings ratio of 10.69 and a beta of 1.19. The stock’s fifty day simple moving average is $58.27 and its 200 day simple moving average is $55.39.

Invesco KBW Bank ETF Increases Dividend

The company 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 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. This represents a $1.70 annualized dividend and a yield of 2.70%.

Institutional Investors Weigh In On Invesco KBW Bank ETF

Several large investors have recently modified their holdings of the company. PNC Financial Services Group Inc. purchased a new stake in Invesco KBW Bank ETF in the 4th quarter valued at $37,000. International Assets Investment Management LLC purchased a new stake in shares of Invesco KBW Bank ETF in the second quarter valued at about $43,000. Lynx Investment Advisory acquired a new stake in shares of Invesco KBW Bank ETF during the second quarter worth about $121,000. Caprock Group LLC purchased a new position in shares of Invesco KBW Bank ETF during the first quarter worth about $208,000. Finally, Fifth Third Securities Inc. increased its position in Invesco KBW Bank ETF by 4.7% in the 2nd quarter. Fifth Third Securities Inc. now owns 4,214 shares of the company’s stock valued at $225,000 after acquiring an additional 191 shares during the period.

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.