Invesco KBW Bank ETF (NASDAQ:KBWB) Sees Large Volume Increase – Here’s Why

Invesco KBW Bank ETF (NASDAQ:KBWB) saw unusually-strong trading volume on Wednesday. Approximately 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 Price Performance

The business has a 50-day moving average of $92.57 and a 200 day moving average of $91.22. The company has a market capitalization of $6.25 billion, a PE ratio of 13.35 and a beta of 1.05.

Invesco KBW Bank ETF Cuts Dividend

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

Institutional Investors Weigh In On Invesco KBW Bank ETF

Several institutional investors have recently bought and sold shares of the company. Annex Advisory Services LLC purchased a new position in Invesco KBW Bank ETF during the third quarter worth approximately $70,800,000. Ayalon Insurance Comp Ltd. lifted its stake in Invesco KBW Bank ETF by 596.4% during the 3rd quarter. Ayalon Insurance Comp Ltd. now owns 172,700 shares of the company’s stock worth $15,065,000 after acquiring an additional 147,900 shares in the last quarter. Envestnet Asset Management Inc. grew its position in Invesco KBW Bank ETF by 92.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 194,141 shares of the company’s stock valued at $18,051,000 after acquiring an additional 93,236 shares in the last quarter. Baird Financial Group Inc. purchased a new position in Invesco KBW Bank ETF in the 2nd quarter valued at approximately $6,101,000. Finally, Quantitative Investment Management LLC purchased a new stake in shares of Invesco KBW Bank ETF during the second quarter worth approximately $5,564,000.

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.