PVG Asset Management Corp Invests $417,000 in Invesco KBW Bank ETF (NASDAQ:KBWB)

PVG Asset Management Corp purchased a new position in Invesco KBW Bank ETF (NASDAQ:KBWB) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,803 shares of the company’s stock, valued at approximately $417,000. Invesco KBW Bank ETF makes up approximately 1.7% of PVG Asset Management Corp’s portfolio, making the stock its 16th largest position.

Other hedge funds have also recently added to or reduced their stakes in the company. Fisher Asset Management LLC lifted its position in Invesco KBW Bank ETF by 32.7% in the 4th quarter. Fisher Asset Management LLC now owns 1,593,175 shares of the company’s stock valued at $78,368,000 after acquiring an additional 392,919 shares in the last quarter. UBS Group AG grew its holdings in Invesco KBW Bank ETF by 7.8% during the fourth quarter. UBS Group AG now owns 197,604 shares of the company’s stock worth $9,720,000 after buying an additional 14,235 shares in the last quarter. GLOBALT Investments LLC GA purchased a new stake in Invesco KBW Bank ETF in the 4th quarter valued at $643,000. Principal Financial Group Inc. purchased a new stake in Invesco KBW Bank ETF in the 2nd quarter valued at $1,306,000. Finally, Trust Co. of Vermont boosted its holdings in Invesco KBW Bank ETF by 105.3% during the 4th quarter. Trust Co. of Vermont now owns 616 shares of the company’s stock worth $30,000 after acquiring an additional 316 shares during the last quarter.

Invesco KBW Bank ETF Price Performance

NASDAQ KBWB opened at $58.61 on Tuesday. The company has a fifty day moving average price of $57.28 and a 200-day moving average price of $54.59. Invesco KBW Bank ETF has a 1 year low of $36.51 and a 1 year high of $59.68. The firm has a market cap of $1.70 billion, a price-to-earnings ratio of 10.69 and a beta of 1.19.

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 $0.424 dividend. This represents a $1.70 dividend on an annualized basis and a yield of 2.89%. This is an increase from Invesco KBW Bank ETF’s previous quarterly dividend of $0.40. The ex-dividend date was Monday, September 23rd.

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.