Redstone Wealth Management LLC Acquires New Stake in Invesco KBW Property & Casualty Insurance ETF $KBWP

Redstone Wealth Management LLC acquired a new stake in Invesco KBW Property & Casualty Insurance ETF (NASDAQ:KBWP) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 90,468 shares of the company’s stock, valued at approximately $11,516,000. Invesco KBW Property & Casualty Insurance ETF makes up about 9.1% of Redstone Wealth Management LLC’s portfolio, making the stock its 3rd biggest holding.

Several other institutional investors have also added to or reduced their stakes in the stock. GGM Financials LLC lifted its position in Invesco KBW Property & Casualty Insurance ETF by 80.9% in the 4th quarter. GGM Financials LLC now owns 1,328 shares of the company’s stock valued at $169,000 after acquiring an additional 594 shares in the last quarter. Mutual Advisors LLC increased its stake in Invesco KBW Property & Casualty Insurance ETF by 4.7% in the 4th quarter. Mutual Advisors LLC now owns 89,150 shares of the company’s stock valued at $11,348,000 after buying an additional 3,989 shares during the last quarter. Flagship Harbor Advisors LLC acquired a new stake in Invesco KBW Property & Casualty Insurance ETF in the 4th quarter valued at $60,000. Sound Income Strategies LLC increased its stake in Invesco KBW Property & Casualty Insurance ETF by 32,625.0% in the 4th quarter. Sound Income Strategies LLC now owns 1,309 shares of the company’s stock valued at $159,000 after buying an additional 1,305 shares during the last quarter. Finally, Focus Financial Network Inc. increased its stake in Invesco KBW Property & Casualty Insurance ETF by 4.2% in the 4th quarter. Focus Financial Network Inc. now owns 23,300 shares of the company’s stock valued at $2,966,000 after buying an additional 942 shares during the last quarter.

Invesco KBW Property & Casualty Insurance ETF Stock Performance

Shares of KBWP stock opened at $120.63 on Monday. Invesco KBW Property & Casualty Insurance ETF has a 1 year low of $114.62 and a 1 year high of $129.00. The firm’s fifty day moving average price is $120.11 and its two-hundred day moving average price is $122.64. The firm has a market capitalization of $254.53 million, a P/E ratio of 13.50 and a beta of 0.43.

Invesco KBW Property & Casualty Insurance ETF Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Monday, March 23rd were paid a $0.9853 dividend. This represents a $3.94 annualized dividend and a yield of 3.3%. The ex-dividend date was Monday, March 23rd. This is an increase from Invesco KBW Property & Casualty Insurance ETF’s previous quarterly dividend of $0.60.

Invesco KBW Property & Casualty Insurance ETF Profile

The Invesco KBW Property & Casualty Insurance ETF (KBWP) is an exchange-traded fund that mostly invests in financials equity. The fund tracks a modified market-cap-weighted index focused exclusively on property & casualty insurance companies in the US. KBWP was launched on Dec 2, 2010 and is managed by Invesco.