Invesco KBW Bank ETF (NASDAQ:KBWB) Shares Cross Below Two Hundred Day Moving Average – Time to Sell?

Invesco KBW Bank ETF (NASDAQ:KBWB)’s stock price passed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $88.96 and traded as low as $87.65. Invesco KBW Bank ETF shares last traded at $88.03, with a volume of 3,582,032 shares changing hands.

Invesco KBW Bank ETF Trading Down 3.5%

The stock has a market capitalization of $6.75 billion, a P/E ratio of 12.89 and a beta of 1.05. The company has a 50-day moving average price of $90.49 and a 200 day moving average price of $88.96.

Invesco KBW Bank ETF Cuts Dividend

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

Hedge Funds Weigh In On Invesco KBW Bank ETF

A number of large investors have recently added to or reduced their stakes in the company. CVS HEALTH Corp purchased a new stake in shares of Invesco KBW Bank ETF during the third quarter valued at about $3,489,000. Advisor Resource Council grew its position in shares of Invesco KBW Bank ETF by 72.7% in the 3rd quarter. Advisor Resource Council now owns 16,671 shares of the company’s stock worth $1,460,000 after buying an additional 7,016 shares during the last quarter. Ritholtz Wealth Management purchased a new position in shares of Invesco KBW Bank ETF in the 3rd quarter worth approximately $208,000. Jacobi Capital Management LLC purchased a new position in shares of Invesco KBW Bank ETF in the 3rd quarter worth approximately $93,000. Finally, Csenge Advisory Group bought a new position in shares of Invesco KBW Bank ETF during the 3rd quarter worth approximately $4,635,000.

Invesco KBW Bank ETF Company 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.