Northwestern Mutual Wealth Management Co. Raises Stock Position in Invesco KBW Bank ETF $KBWB

Northwestern Mutual Wealth Management Co. raised its stake in Invesco KBW Bank ETF (NASDAQ:KBWB) by 306.6% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 54,153 shares of the company’s stock after buying an additional 40,834 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Invesco KBW Bank ETF were worth $4,565,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Fort Sheridan Advisors LLC purchased a new position in Invesco KBW Bank ETF in the third quarter valued at about $564,000. JPMorgan Chase & Co. increased its holdings in Invesco KBW Bank ETF by 77.4% in the third quarter. JPMorgan Chase & Co. now owns 6,215,823 shares of the company’s stock valued at $486,140,000 after buying an additional 2,712,112 shares in the last quarter. Altfest L J & Co. Inc. purchased a new position in Invesco KBW Bank ETF in the fourth quarter valued at about $7,065,000. Independent Advisor Alliance purchased a new position in Invesco KBW Bank ETF in the third quarter valued at about $1,012,000. Finally, Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management purchased a new position in Invesco KBW Bank ETF in the third quarter valued at about $9,933,000.

Invesco KBW Bank ETF Trading Down 1.4%

Shares of Invesco KBW Bank ETF stock opened at $87.16 on Thursday. Invesco KBW Bank ETF has a 12-month low of $65.24 and a 12-month high of $91.43. The stock has a market cap of $5.50 billion, a PE ratio of 13.35 and a beta of 1.04. The company has a 50-day moving average of $84.48 and a two-hundred day moving average of $83.73.

Invesco KBW Bank ETF Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Monday, March 23rd were given a $0.4898 dividend. This is a boost from Invesco KBW Bank ETF’s previous quarterly dividend of $0.44. This represents a $1.96 annualized dividend and a dividend yield of 2.2%. The ex-dividend date was Monday, March 23rd.

Invesco KBW Bank ETF Profile

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.