Invesco KBW Bank ETF (NASDAQ:KBWB) Sees Large Decline in Short Interest

Invesco KBW Bank ETF (NASDAQ:KBWB) saw a significant drop in short interest during the month of October. As of October 31st, there was short interest totalling 1,400,000 shares, a drop of 8.5% from the October 15th total of 1,530,000 shares. Based on an average daily volume of 916,700 shares, the days-to-cover ratio is presently 1.5 days.

Invesco KBW Bank ETF Stock Performance

Shares of KBWB stock opened at $69.24 on Tuesday. The stock’s 50-day moving average is $61.26 and its two-hundred day moving average is $57.29. The firm has a market cap of $2.12 billion, a price-to-earnings ratio of 10.69 and a beta of 1.19. Invesco KBW Bank ETF has a 1 year low of $41.98 and a 1 year high of $70.01.

Invesco KBW Bank ETF Increases Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend was Monday, September 23rd. This represents a $1.70 annualized dividend and a dividend yield of 2.45%.

Hedge Funds Weigh In On Invesco KBW Bank ETF

Several hedge funds have recently made changes to their positions in KBWB. Cetera Investment Advisers grew its holdings in shares of Invesco KBW Bank ETF by 1,752.4% during the first quarter. Cetera Investment Advisers now owns 96,919 shares of the company’s stock worth $5,201,000 after purchasing an additional 91,687 shares during the last quarter. Cetera Advisors LLC grew its holdings in shares of Invesco KBW Bank ETF by 18.7% during the first quarter. Cetera Advisors LLC now owns 92,836 shares of the company’s stock worth $4,982,000 after buying an additional 14,601 shares during the last quarter. Lynx Investment Advisory purchased a new position in shares of Invesco KBW Bank ETF during the second quarter worth about $121,000. Fifth Third Securities Inc. grew its holdings in shares of Invesco KBW Bank ETF by 4.7% during the second quarter. Fifth Third Securities Inc. now owns 4,214 shares of the company’s stock worth $225,000 after buying an additional 191 shares during the last quarter. Finally, RFG Holdings Inc. grew its holdings in shares of Invesco KBW Bank ETF by 9.4% during the second quarter. RFG Holdings Inc. now owns 194,535 shares of the company’s stock worth $10,408,000 after buying an additional 16,667 shares during the last quarter.

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.