Invesco KBW Bank ETF (NASDAQ:KBWB) Sees Strong Trading Volume

Invesco KBW Bank ETF (NASDAQ:KBWB) shares saw unusually-strong trading volume on Friday . Approximately 1,250,063 shares traded hands during mid-day trading, an increase of 60% from the previous session’s volume of 783,498 shares.The stock last traded at $53.33 and had previously closed at $52.27.

Invesco KBW Bank ETF Price Performance

The company’s 50 day simple moving average is $53.14 and its 200 day simple moving average is $50.93. The firm has a market cap of $1.58 billion, a price-to-earnings ratio of 10.69 and a beta of 1.19.

Invesco KBW Bank ETF Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Monday, June 24th will be paid a $0.3984 dividend. The ex-dividend date is Monday, June 24th. This represents a $1.59 annualized dividend and a dividend yield of 2.98%.

Hedge Funds Weigh In On Invesco KBW Bank ETF

Several institutional investors have recently modified their holdings of the business. Truist Financial Corp grew its stake in shares of Invesco KBW Bank ETF by 1.4% during the fourth quarter. Truist Financial Corp now owns 19,497 shares of the company’s stock worth $959,000 after purchasing an additional 278 shares in the last quarter. Trust Co. of Vermont grew its stake in shares of Invesco KBW Bank ETF by 105.3% during the fourth quarter. Trust Co. of Vermont now owns 616 shares of the company’s stock worth $30,000 after purchasing an additional 316 shares in the last quarter. Janney Montgomery Scott LLC grew its stake in shares of Invesco KBW Bank ETF by 3.9% during the fourth quarter. Janney Montgomery Scott LLC now owns 10,168 shares of the company’s stock worth $500,000 after purchasing an additional 379 shares in the last quarter. HighTower Advisors LLC grew its stake in shares of Invesco KBW Bank ETF by 2.7% during the third quarter. HighTower Advisors LLC now owns 15,389 shares of the company’s stock worth $609,000 after purchasing an additional 401 shares in the last quarter. Finally, PNC Financial Services Group Inc. acquired a new position in shares of Invesco KBW Bank ETF during the fourth quarter worth $37,000.

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.