Invesco Taxable Municipal Bond ETF (NYSEARCA:BAB) Trading Up 0.2% – Still a Buy?

Shares of Invesco Taxable Municipal Bond ETF (NYSEARCA:BAB) shot up 0.2% during trading on Monday . The company traded as high as $27.30 and last traded at $27.24. 213,664 shares traded hands during mid-day trading, an increase of 7% from the average session volume of 199,391 shares. The stock had previously closed at $27.19.

Invesco Taxable Municipal Bond ETF Stock Performance

The company’s 50-day moving average price is $27.27 and its two-hundred day moving average price is $27.10. The stock has a market cap of $1.05 billion, a PE ratio of -202.23 and a beta of 0.32.

Invesco Taxable Municipal Bond ETF Cuts Dividend

The company also recently announced a monthly dividend, which was paid on Friday, January 23rd. Investors of record on Tuesday, January 20th were paid a $0.0916 dividend. This represents a c) dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend was Tuesday, January 20th.

Hedge Funds Weigh In On Invesco Taxable Municipal Bond ETF

A number of hedge funds and other institutional investors have recently modified their holdings of BAB. Annex Advisory Services LLC purchased a new position in Invesco Taxable Municipal Bond ETF in the 4th quarter worth $83,386,000. Kingsview Wealth Management LLC grew its stake in shares of Invesco Taxable Municipal Bond ETF by 109.3% during the third quarter. Kingsview Wealth Management LLC now owns 713,285 shares of the company’s stock valued at $19,466,000 after buying an additional 372,417 shares during the last quarter. Jane Street Group LLC increased its holdings in shares of Invesco Taxable Municipal Bond ETF by 44.4% in the second quarter. Jane Street Group LLC now owns 565,488 shares of the company’s stock worth $15,002,000 after buying an additional 173,932 shares during the period. Hershey Financial Advisers LLC purchased a new position in shares of Invesco Taxable Municipal Bond ETF in the second quarter worth about $3,542,000. Finally, HighTower Advisors LLC lifted its stake in shares of Invesco Taxable Municipal Bond ETF by 9.2% in the 3rd quarter. HighTower Advisors LLC now owns 1,441,238 shares of the company’s stock valued at $39,331,000 after acquiring an additional 121,880 shares during the last quarter.

About Invesco Taxable Municipal Bond ETF

PowerShares Build America Bond Portfolio (the Fund) seeks investment results that correspond generally to the price and yield performance of an index called The BofA Merrill Lynch Build America Bond Index (the Index). The Fund will normally invests at least 80% of its total assets in the securities that comprise the Index. The Index is designed to track the performance of the United States dollar-denominated Build America Bonds publicly issued by the United States and territories, and their political subdivisions, in the United States market.