Invesco KBW Property & Casualty Insurance ETF (NASDAQ:KBWP) Sees Significant Decline in Short Interest
by Renee Jackson · The Cerbat GemInvesco KBW Property & Casualty Insurance ETF (NASDAQ:KBWP – Get Free Report) was the target of a large decline in short interest in the month of March. As of March 31st, there was short interest totaling 18,363 shares, a decline of 45.4% from the March 15th total of 33,639 shares. Approximately 0.8% of the shares of the company are sold short. Based on an average daily volume of 14,197 shares, the days-to-cover ratio is currently 1.3 days.
Invesco KBW Property & Casualty Insurance ETF Price Performance
KBWP traded up $1.12 during trading on Wednesday, hitting $121.97. The stock had a trading volume of 9,159 shares, compared to its average volume of 17,549. The company has a 50 day moving average price of $122.08 and a 200-day moving average price of $122.65. The firm has a market cap of $264.67 million, a price-to-earnings ratio of 13.50 and a beta of 0.47. Invesco KBW Property & Casualty Insurance ETF has a one year low of $113.94 and a one year high of $129.00.
Invesco KBW Property & Casualty Insurance ETF Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Monday, March 23rd were paid a $0.9853 dividend. This is a boost from Invesco KBW Property & Casualty Insurance ETF’s previous quarterly dividend of $0.60. The ex-dividend date was Monday, March 23rd. This represents a $3.94 annualized dividend and a yield of 3.2%.
Institutional Trading of Invesco KBW Property & Casualty Insurance ETF
Institutional investors have recently added to or reduced their stakes in the company. WFA of San Diego LLC bought a new stake in shares of Invesco KBW Property & Casualty Insurance ETF during the 2nd quarter worth $32,000. Flagship Harbor Advisors LLC bought a new stake in shares of Invesco KBW Property & Casualty Insurance ETF during the 4th quarter worth $60,000. GGM Financials LLC bought a new stake in shares of Invesco KBW Property & Casualty Insurance ETF during the 3rd quarter worth $91,000. Sound Income Strategies LLC lifted its position in shares of Invesco KBW Property & Casualty Insurance ETF by 32,625.0% during the 4th quarter. Sound Income Strategies LLC now owns 1,309 shares of the company’s stock worth $159,000 after buying an additional 1,305 shares during the last quarter. Finally, NewEdge Advisors LLC bought a new stake in shares of Invesco KBW Property & Casualty Insurance ETF during the 3rd quarter worth $187,000.
About Invesco KBW Property & Casualty Insurance ETF
The Invesco KBW Property & Casualty Insurance ETF (KBWP) is an exchange-traded fund that mostly invests in financials equity. The fund tracks a modified market-cap-weighted index focused exclusively on property & casualty insurance companies in the US. KBWP was launched on Dec 2, 2010 and is managed by Invesco.