Raymond James & Associates Has $6.94 Million Stock Position in Invesco KBW Bank ETF (NASDAQ:KBWB)

Raymond James & Associates lifted its stake in Invesco KBW Bank ETF (NASDAQ:KBWB – Get Rating) by 159.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 134,417 shares of the company’s stock after acquiring an additional 82,649 shares during the quarter. Raymond James & Associates’ holdings in Invesco KBW Bank ETF were worth $6,939,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of KBWB. Sculptor Capital LP acquired a new stake in shares of Invesco KBW Bank ETF in the first quarter valued at about $71,473,000. Phoenix Holdings Ltd. increased its position in shares of Invesco KBW Bank ETF by 7.4% in the third quarter. Phoenix Holdings Ltd. now owns 3,806,157 shares of the company’s stock valued at $188,595,000 after acquiring an additional 263,000 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Invesco KBW Bank ETF by 13.9% in the first quarter. Goldman Sachs Group Inc. now owns 1,384,315 shares of the company’s stock valued at $88,236,000 after acquiring an additional 169,354 shares during the last quarter. Accredited Investors Inc. increased its position in shares of Invesco KBW Bank ETF by 13.7% in the fourth quarter. Accredited Investors Inc. now owns 584,852 shares of the company’s stock valued at $30,190,000 after acquiring an additional 70,649 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its position in shares of Invesco KBW Bank ETF by 93.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 145,649 shares of the company’s stock valued at $7,518,000 after acquiring an additional 70,285 shares during the last quarter.

Invesco KBW Bank ETF Stock Performance

NASDAQ:KBWB opened at $39.56 on Friday. The stock’s 50-day simple moving average is $40.96 and its 200 day simple moving average is $47.54. The company has a market cap of $1.28 billion, a P/E ratio of 8.67 and a beta of 1.19. Invesco KBW Bank ETF has a 52-week low of $36.19 and a 52-week high of $60.43.

Invesco KBW Bank ETF Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 24th. Shareholders of record on Tuesday, March 21st were given a dividend of $0.334 per share. This represents a $1.34 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date was Monday, March 20th.

Invesco KBW Bank ETF Company Profile

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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.