Invesco KBW Bank ETF (NASDAQ:KBWB) Sees Unusually-High Trading Volume – Should You Buy?

Invesco KBW Bank ETF (NASDAQ:KBWB) saw unusually-high trading volume on Wednesday. Approximately 2,887,540 shares changed hands during trading, an increase of 44% from the previous session’s volume of 2,003,843 shares. The stock last traded at $84.7510 and had previously closed at $86.77.

Invesco KBW Bank ETF Stock Performance

The company has a fifty day simple moving average of $93.73 and a two-hundred day simple moving average of $90.93. The company has a market capitalization of $6.00 billion, a price-to-earnings ratio of 13.35 and a beta of 1.05.

Invesco KBW Bank ETF Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Monday, September 21st were issued a dividend of $0.4601 per share. This represents a $1.84 annualized dividend and a dividend yield of 2.2%. This is a negative change from Invesco KBW Bank ETF’s previous quarterly dividend of $0.4729. The ex-dividend date was Monday, September 21st.

Hedge Funds Weigh In On Invesco KBW Bank ETF

Institutional investors have recently added to or reduced their stakes in the business. Temasek Holdings Private Ltd raised its position in Invesco KBW Bank ETF by 86.1% in the fourth quarter. Temasek Holdings Private Ltd now owns 1,989,001 shares of the company’s stock valued at $167,653,000 after purchasing an additional 920,001 shares during the period. Annex Advisory Services LLC lifted its stake in shares of Invesco KBW Bank ETF by 94.4% during the second quarter. Annex Advisory Services LLC now owns 756,328 shares of the company’s stock worth $70,323,000 after purchasing an additional 367,271 shares in the last quarter. Ayalon Insurance Comp Ltd. boosted its position in shares of Invesco KBW Bank ETF by 596.4% in the third quarter. Ayalon Insurance Comp Ltd. now owns 172,700 shares of the company’s stock worth $15,065,000 after buying an additional 147,900 shares during the period. Envestnet Asset Management Inc. grew its stake in shares of Invesco KBW Bank ETF by 92.4% in the second quarter. Envestnet Asset Management Inc. now owns 194,141 shares of the company’s stock valued at $18,051,000 after buying an additional 93,236 shares in the last quarter. Finally, Baird Financial Group Inc. acquired a new stake in shares of Invesco KBW Bank ETF in the second quarter valued at about $6,101,000.

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.