Invesco KBW Bank ETF (NASDAQ:KBWB) Sees Strong Trading Volume – Time to Buy?

Shares of Invesco KBW Bank ETF (NASDAQ:KBWB) saw an uptick in trading volume on Friday . 3,706,232 shares were traded during mid-day trading, an increase of 203% from the previous session’s volume of 1,222,552 shares.The stock last traded at $53.22 and had previously closed at $57.23.

Invesco KBW Bank ETF Stock Down 6.5 %

The stock has a market capitalization of $3.20 billion, a price-to-earnings ratio of 13.06 and a beta of 1.19. The company has a 50 day simple moving average of $66.53 and a 200-day simple moving average of $65.68.

Invesco KBW Bank ETF Increases Dividend

The business also recently announced a dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 24th were given a dividend of $0.4118 per share. The ex-dividend date was Monday, March 24th. This is an increase from Invesco KBW Bank ETF’s previous dividend of $0.36.

Institutional Investors Weigh In On Invesco KBW Bank ETF

A number of large investors have recently bought and sold shares of the stock. Webster Bank N. A. bought a new position in shares of Invesco KBW Bank ETF during the 1st quarter worth about $54,000. Central Pacific Bank Trust Division bought a new stake in Invesco KBW Bank ETF in the 1st quarter valued at about $1,775,000. First Hawaiian Bank acquired a new position in Invesco KBW Bank ETF during the 1st quarter worth approximately $1,989,000. DSG Capital Advisors LLC bought a new position in Invesco KBW Bank ETF in the fourth quarter worth approximately $282,000. Finally, Jefferies Financial Group Inc. grew its stake in Invesco KBW Bank ETF by 325.8% in the fourth quarter. Jefferies Financial Group Inc. now owns 29,380 shares of the company’s stock valued at $1,920,000 after acquiring an additional 22,480 shares during the period.

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.