Invesco KBW Bank ETF (NASDAQ:KBWB) Sees Large Increase in Short Interest

Invesco KBW Bank ETF (NASDAQ:KBWB) was the target of a large growth in short interest in the month of October. As of October 15th, there was short interest totalling 1,530,000 shares, a growth of 13.3% from the September 30th total of 1,350,000 shares. Based on an average daily volume of 809,400 shares, the days-to-cover ratio is presently 1.9 days.

Invesco KBW Bank ETF Price Performance

KBWB traded down $0.68 during trading on Thursday, reaching $62.53. The company had a trading volume of 1,333,739 shares, compared to its average volume of 806,408. Invesco KBW Bank ETF has a 12 month low of $37.35 and a 12 month high of $63.91. The business’s fifty day moving average price is $59.30 and its 200 day moving average price is $56.00. The company has a market cap of $1.91 billion, a P/E ratio of 10.69 and a beta of 1.19.

Invesco KBW Bank ETF Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Monday, September 23rd were paid a $0.424 dividend. This is an increase from Invesco KBW Bank ETF’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Monday, September 23rd. This represents a $1.70 annualized dividend and a dividend yield of 2.71%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. PNC Financial Services Group Inc. bought a new position in Invesco KBW Bank ETF in the fourth quarter valued at $37,000. International Assets Investment Management LLC bought a new position in shares of Invesco KBW Bank ETF in the 2nd quarter valued at about $43,000. HM Payson & Co. acquired a new stake in shares of Invesco KBW Bank ETF in the third quarter valued at about $68,000. Lynx Investment Advisory bought a new stake in Invesco KBW Bank ETF during the second quarter worth about $121,000. Finally, Fifth Third Securities Inc. boosted its position in Invesco KBW Bank ETF by 4.7% during the second quarter. Fifth Third Securities Inc. now owns 4,214 shares of the company’s stock valued at $225,000 after purchasing an additional 191 shares during the last quarter.

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.