Morningstar Investment Management LLC Purchases 18,604 Shares of Invesco KBW Bank ETF (NASDAQ:KBWB)

Morningstar Investment Management LLC raised its stake in Invesco KBW Bank ETF (NASDAQ:KBWB – Get Rating) by 10.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 196,416 shares of the company’s stock after buying an additional 18,604 shares during the quarter. Invesco KBW Bank ETF accounts for about 2.6% of Morningstar Investment Management LLC’s portfolio, making the stock its 10th largest position. Morningstar Investment Management LLC owned approximately 0.58% of Invesco KBW Bank ETF worth $10,139,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Accredited Investors Inc. raised its position in shares of Invesco KBW Bank ETF by 13.7% during the fourth quarter. Accredited Investors Inc. now owns 584,852 shares of the company’s stock worth $30,190,000 after purchasing an additional 70,649 shares during the period. Chevy Chase Trust Holdings LLC bought a new position in shares of Invesco KBW Bank ETF during the fourth quarter worth about $1,815,000. SOL Capital Management CO grew its holdings in shares of Invesco KBW Bank ETF by 0.8% during the fourth quarter. SOL Capital Management CO now owns 299,999 shares of the company’s stock worth $15,486,000 after buying an additional 2,476 shares in the last quarter. Source Financial Advisors LLC bought a new position in shares of Invesco KBW Bank ETF during the fourth quarter worth about $534,000. Finally, Bank Hapoalim BM grew its holdings in shares of Invesco KBW Bank ETF by 7.2% during the third quarter. Bank Hapoalim BM now owns 408,933 shares of the company’s stock worth $20,087,000 after buying an additional 27,629 shares in the last quarter.

Invesco KBW Bank ETF Price Performance

KBWB stock traded up $0.36 during mid-day trading on Friday, reaching $40.08. The company had a trading volume of 1,523,478 shares, compared to its average volume of 1,995,606. The stock has a 50 day simple moving average of $39.71 and a two-hundred day simple moving average of $44.84. The company has a market capitalization of $1.30 billion, a price-to-earnings ratio of 8.67 and a beta of 1.19. Invesco KBW Bank ETF has a 52 week low of $36.19 and a 52 week high of $60.43.

Invesco KBW Bank ETF Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 24th. Shareholders of record on Tuesday, March 21st were paid a $0.334 dividend. The ex-dividend date of this dividend was Monday, March 20th. This represents a $1.34 dividend on an annualized basis and a yield of 3.33%.

Invesco KBW Bank ETF Profile

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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.