Parsons Capital Management Inc. RI Cuts Stake in Invesco KBW Bank ETF (NASDAQ:KBWB)

Parsons Capital Management Inc. RI lowered its stake in shares of Invesco KBW Bank ETF (NASDAQ:KBWB) by 7.3% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 14,616 shares of the company’s stock after selling 1,150 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in Invesco KBW Bank ETF were worth $784,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Varma Mutual Pension Insurance Co boosted its stake in Invesco KBW Bank ETF by 599.0% in the third quarter. Varma Mutual Pension Insurance Co now owns 5,800,272 shares of the company’s stock valued at $232,417,000 after acquiring an additional 4,970,485 shares during the last quarter. Wharton Business Group LLC raised its holdings in shares of Invesco KBW Bank ETF by 34.3% in the 4th quarter. Wharton Business Group LLC now owns 1,648,222 shares of the company’s stock worth $81,076,000 after purchasing an additional 421,148 shares during the period. Fisher Asset Management LLC raised its holdings in shares of Invesco KBW Bank ETF by 32.8% in the 4th quarter. Fisher Asset Management LLC now owns 1,594,246 shares of the company’s stock worth $78,421,000 after purchasing an additional 393,990 shares during the period. BNP Paribas Financial Markets lifted its stake in Invesco KBW Bank ETF by 302.2% in the fourth quarter. BNP Paribas Financial Markets now owns 577,136 shares of the company’s stock valued at $28,389,000 after purchasing an additional 433,633 shares during the last quarter. Finally, Wells Fargo & Company MN grew its holdings in Invesco KBW Bank ETF by 4.7% during the fourth quarter. Wells Fargo & Company MN now owns 494,060 shares of the company’s stock valued at $24,303,000 after purchasing an additional 22,190 shares during the period.

Invesco KBW Bank ETF Stock Performance

NASDAQ:KBWB traded up $0.12 during trading hours on Friday, reaching $52.61. The stock had a trading volume of 421,531 shares, compared to its average volume of 895,933. The stock has a market cap of $1.49 billion, a P/E ratio of 10.29 and a beta of 1.19. The stock has a 50 day simple moving average of $51.20 and a 200 day simple moving average of $47.25. Invesco KBW Bank ETF has a 12-month low of $36.19 and a 12-month high of $53.79.

Invesco KBW Bank ETF Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Tuesday, March 19th were issued a $0.4265 dividend. This represents a $1.71 annualized dividend and a yield of 3.24%. The ex-dividend date of this dividend was Monday, March 18th.

Invesco KBW Bank ETF 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.