Invesco KBW Bank ETF (NASDAQ:KBWB) Sees Large Volume Increase – What’s Next?

Invesco KBW Bank ETF (NASDAQ:KBWB) shares saw unusually-strong trading volume on Wednesday. 2,887,540 shares were traded 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 Price Performance

The firm has a 50 day moving average of $93.73 and a two-hundred day moving average of $90.93. The stock has a market cap of $6.00 billion, a PE ratio of 13.35 and a beta of 1.05.

Invesco KBW Bank ETF Cuts Dividend

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

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Allworth Financial LP increased its position in Invesco KBW Bank ETF by 25.0% during the 2nd quarter. Allworth Financial LP now owns 665 shares of the company’s stock worth $62,000 after purchasing an additional 133 shares in the last quarter. City Center Advisors LLC raised its stake in Invesco KBW Bank ETF by 2.3% in the 2nd quarter. City Center Advisors LLC now owns 8,567 shares of the company’s stock valued at $797,000 after purchasing an additional 189 shares during the last quarter. North Star Investment Management Corp. acquired a new position in Invesco KBW Bank ETF in the 1st quarter valued at about $29,000. Waverly Advisors LLC lifted its holdings in Invesco KBW Bank ETF by 15.8% in the 1st quarter. Waverly Advisors LLC now owns 3,491 shares of the company’s stock valued at $276,000 after purchasing an additional 477 shares in the last quarter. Finally, Private Wealth Management Group LLC purchased a new position in Invesco KBW Bank ETF in the 1st quarter valued at about $40,000.

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.