Miracle Mile Advisors LLC Has $462,000 Holdings in Invesco KBW Bank ETF (NASDAQ:KBWB)

Miracle Mile Advisors LLC cut its stake in Invesco KBW Bank ETF (NASDAQ:KBWB) by 7.6% in the first quarter, HoldingsChannel reports. The institutional investor owned 8,617 shares of the company’s stock after selling 708 shares during the quarter. Miracle Mile Advisors LLC’s holdings in Invesco KBW Bank ETF were worth $462,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of KBWB. Lowe Brockenbrough & Co. Inc. grew its position in Invesco KBW Bank ETF by 2.2% during the 3rd quarter. Lowe Brockenbrough & Co. Inc. now owns 143,466 shares of the company’s stock worth $5,749,000 after acquiring an additional 3,025 shares during the last quarter. Global Retirement Partners LLC grew its position in Invesco KBW Bank ETF by 6,581.0% during the 4th quarter. Global Retirement Partners LLC now owns 13,362 shares of the company’s stock worth $636,000 after acquiring an additional 13,162 shares during the last quarter. International Assets Investment Management LLC bought a new stake in Invesco KBW Bank ETF during the 4th quarter worth approximately $1,936,000. Hazlett Burt & Watson Inc. bought a new stake in Invesco KBW Bank ETF during the 4th quarter worth approximately $510,000. Finally, Cerity Partners LLC bought a new stake in Invesco KBW Bank ETF during the 4th quarter worth approximately $246,000.

Invesco KBW Bank ETF Price Performance

NASDAQ KBWB opened at $53.85 on Tuesday. The firm has a market cap of $1.59 billion, a PE ratio of 10.69 and a beta of 1.19. Invesco KBW Bank ETF has a one year low of $36.51 and a one year high of $55.44. The stock’s 50 day simple moving average is $53.22 and its 200 day simple moving average is $51.08.

Invesco KBW Bank ETF Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Monday, June 24th were given a dividend of $0.3984 per share. The ex-dividend date of this dividend was Monday, June 24th. This represents a $1.59 dividend on an annualized basis and a yield of 2.96%.

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.