Invesco KBW Bank ETF (NASDAQ:KBWB) Sees Unusually-High Trading Volume – Here’s What Happened

Shares of Invesco KBW Bank ETF (NASDAQ:KBWB) saw unusually-high trading volume on Wednesday. 4,261,690 shares changed hands during trading, an increase of 109% from the previous session’s volume of 2,042,681 shares. The stock last traded at $87.8570 and had previously closed at $87.08.

Invesco KBW Bank ETF Trading Up 0.2%

The firm has a market cap of $6.26 billion, a price-to-earnings ratio of 13.35 and a beta of 1.05. The company’s 50-day moving average is $92.12 and its 200-day moving average is $91.33.

Invesco KBW Bank ETF Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Monday, September 21st were paid a $0.4601 dividend. This represents a $1.84 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Monday, September 21st. This is a negative change from Invesco KBW Bank ETF’s previous quarterly dividend of $0.4729.

Institutional Trading of Invesco KBW Bank ETF

Institutional investors and hedge funds have recently modified their holdings of the business. FARMERS & MERCHANTS TRUST Co OF LONG BEACH bought a new stake in shares of Invesco KBW Bank ETF during the 3rd quarter valued at approximately $260,000. Magnus Financial Group LLC lifted its stake in Invesco KBW Bank ETF by 3.4% in the 3rd quarter. Magnus Financial Group LLC now owns 24,843 shares of the company’s stock valued at $2,167,000 after purchasing an additional 820 shares during the last quarter. Sowell Financial Services LLC lifted its stake in Invesco KBW Bank ETF by 5.4% in the 3rd quarter. Sowell Financial Services LLC now owns 16,987 shares of the company’s stock valued at $1,482,000 after purchasing an additional 871 shares during the last quarter. Oregon Pacific Wealth Management LLC boosted its position in Invesco KBW Bank ETF by 33.0% in the third quarter. Oregon Pacific Wealth Management LLC now owns 16,063 shares of the company’s stock valued at $1,401,000 after buying an additional 3,985 shares in the last quarter. Finally, Crown Wealth Group LLC boosted its position in Invesco KBW Bank ETF by 1,244.3% in the third quarter. Crown Wealth Group LLC now owns 37,909 shares of the company’s stock valued at $3,307,000 after buying an additional 35,089 shares in 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.