SOL Capital Management CO Trims Stake in Invesco KBW Bank ETF (NASDAQ:KBWB)

SOL Capital Management CO lessened its holdings in Invesco KBW Bank ETF (NASDAQ:KBWB) by 5.4% during the 3rd quarter, HoldingsChannel reports. The firm owned 292,978 shares of the company’s stock after selling 16,626 shares during the period. Invesco KBW Bank ETF accounts for approximately 1.9% of SOL Capital Management CO’s portfolio, making the stock its 10th largest position. SOL Capital Management CO’s holdings in Invesco KBW Bank ETF were worth $17,171,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of KBWB. BNP Paribas Financial Markets increased its position in Invesco KBW Bank ETF by 153.2% in the first quarter. BNP Paribas Financial Markets now owns 1,461,106 shares of the company’s stock worth $78,403,000 after purchasing an additional 883,970 shares during the last quarter. Congress Wealth Management LLC DE bought a new position in Invesco KBW Bank ETF during the first quarter valued at $11,502,000. Good Life Advisors LLC bought a new position in Invesco KBW Bank ETF during the third quarter valued at $7,819,000. Valley Wealth Managers Inc. bought a new position in Invesco KBW Bank ETF during the second quarter valued at $6,971,000. Finally, Envestnet Asset Management Inc. increased its position in Invesco KBW Bank ETF by 908.4% during the second quarter. Envestnet Asset Management Inc. now owns 138,908 shares of the company’s stock valued at $7,432,000 after acquiring an additional 125,133 shares during the last quarter.

Invesco KBW Bank ETF Stock Up 0.3 %

KBWB stock opened at $62.34 on Thursday. Invesco KBW Bank ETF has a twelve month low of $36.51 and a twelve month high of $63.38. The stock has a market capitalization of $1.91 billion, a price-to-earnings ratio of 10.69 and a beta of 1.19. The firm’s fifty day simple moving average is $58.70 and its two-hundred day simple moving average is $55.61.

Invesco KBW Bank ETF Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Monday, September 23rd were given a dividend of $0.424 per share. This is a boost from Invesco KBW Bank ETF’s previous quarterly dividend of $0.40. The ex-dividend date was Monday, September 23rd. This represents a $1.70 dividend on an annualized basis and a yield of 2.72%.

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.