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

Invesco KBW Bank ETF (NASDAQ:KBWB) saw a significant drop in short interest in September. As of September 30th, there was short interest totalling 1,350,000 shares, a drop of 24.2% from the September 15th total of 1,780,000 shares. Based on an average daily trading volume, of 819,500 shares, the short-interest ratio is currently 1.6 days.

Invesco KBW Bank ETF Stock Performance

Shares of NASDAQ:KBWB traded up $0.19 on Tuesday, hitting $61.88. 1,302,482 shares of the company’s stock were exchanged, compared to its average volume of 818,320. Invesco KBW Bank ETF has a 1-year low of $36.51 and a 1-year high of $62.88. The company has a market capitalization of $1.84 billion, a PE ratio of 10.69 and a beta of 1.19. The firm’s 50-day moving average is $57.59 and its 200 day moving average is $55.15.

Invesco KBW Bank ETF Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Monday, September 23rd were issued a $0.424 dividend. This represents a $1.70 dividend on an annualized basis and a yield of 2.74%. This is an increase from Invesco KBW Bank ETF’s previous quarterly dividend of $0.40. The ex-dividend date was Monday, September 23rd.

Institutional Trading of Invesco KBW Bank ETF

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Fisher Asset Management LLC grew its stake in Invesco KBW Bank ETF by 32.7% during the 4th quarter. Fisher Asset Management LLC now owns 1,593,175 shares of the company’s stock worth $78,368,000 after buying an additional 392,919 shares during the last quarter. GLOBALT Investments LLC GA purchased a new stake in Invesco KBW Bank ETF in the 4th quarter valued at approximately $643,000. Principal Financial Group Inc. purchased a new position in shares of Invesco KBW Bank ETF during the 2nd quarter worth approximately $1,306,000. Trust Co. of Vermont raised its position in Invesco KBW Bank ETF by 105.3% in the fourth quarter. Trust Co. of Vermont now owns 616 shares of the company’s stock worth $30,000 after acquiring an additional 316 shares in the last quarter. Finally, PVG Asset Management Corp purchased a new position in shares of Invesco KBW Bank ETF in the 2nd quarter valued at about $417,000.

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.