Invesco KBW Bank ETF (NASDAQ:KBWB) Hits New 52-Week High – Time to Buy?

Invesco KBW Bank ETF (NASDAQ:KBWB) hit 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 traded. The stock had previously closed at $69.54.

Invesco KBW Bank ETF Price Performance

The company has a market capitalization of $2.16 billion, a price-to-earnings ratio of 10.69 and a beta of 1.19. The business has a fifty day moving average price of $62.25 and a 200 day moving average price of $57.68.

Invesco KBW Bank ETF Increases Dividend

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

Institutional Trading of Invesco KBW Bank ETF

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Capital Performance Advisors LLP bought a new stake in shares of Invesco KBW Bank ETF in the 3rd quarter worth approximately $29,000. Private Trust Co. NA lifted its position in Invesco KBW Bank ETF by 88.7% in the third quarter. Private Trust Co. NA now owns 566 shares of the company’s stock worth $33,000 after purchasing an additional 266 shares during the period. International Assets Investment Management LLC acquired a new stake in Invesco KBW Bank ETF during the second quarter worth $43,000. HM Payson & Co. bought a new stake in Invesco KBW Bank ETF in the 3rd quarter valued at $68,000. Finally, Lynx Investment Advisory bought a new stake in Invesco KBW Bank ETF in the 2nd quarter valued at $121,000.

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.