Invesco KBW Bank ETF (NASDAQ:KBWB) Sees Large Volume Increase – Should You Buy?

Shares of Invesco KBW Bank ETF (NASDAQ:KBWB) saw strong trading volume on Tuesday . 1,314,925 shares traded hands during mid-day trading, an increase of 51% from the previous session’s volume of 870,373 shares.The stock last traded at $69.01 and had previously closed at $68.86.

Invesco KBW Bank ETF Price Performance

The company has a 50-day moving average of $65.62 and a 200 day moving average of $59.24. The company has a market cap of $2.09 billion, a PE ratio of 10.69 and a beta of 1.19.

Invesco KBW Bank ETF Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Monday, September 23rd were paid a $0.424 dividend. This represents a $1.70 annualized dividend and a dividend yield of 2.48%. This is a positive change from Invesco KBW Bank ETF’s previous quarterly dividend of $0.40. The ex-dividend date was Monday, September 23rd.

Hedge Funds Weigh In On Invesco KBW Bank ETF

Several large investors have recently modified their holdings of the stock. Fiduciary Trust Co bought a new stake in Invesco KBW Bank ETF in the third quarter worth $27,113,000. Wharton Business Group LLC raised its stake in shares of Invesco KBW Bank ETF by 27.4% in the third quarter. Wharton Business Group LLC now owns 1,987,535 shares of the company’s stock valued at $116,489,000 after acquiring an additional 427,872 shares during the period. Fisher Asset Management LLC lifted its holdings in shares of Invesco KBW Bank ETF by 11.6% in the 3rd quarter. Fisher Asset Management LLC now owns 2,529,651 shares of the company’s stock worth $148,263,000 after acquiring an additional 262,800 shares during the last quarter. Good Life Advisors LLC purchased a new position in shares of Invesco KBW Bank ETF during the 3rd quarter worth about $7,819,000. Finally, Valley Wealth Managers Inc. purchased a new position in shares of Invesco KBW Bank ETF during the 2nd quarter worth about $6,971,000.

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.