Invesco KBW Property & Casualty Insurance ETF (NASDAQ:KBWP) Stock Price Down 1.9%

Invesco KBW Property & Casualty Insurance ETF (NASDAQ:KBWP – Get Rating)’s share price dropped 1.9% during trading on Wednesday . The stock traded as low as $81.36 and last traded at $81.39. Approximately 6,135 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 31,499 shares. The stock had previously closed at $83.00.

Invesco KBW Property & Casualty Insurance ETF Trading Down 0.4 %

The firm has a market cap of $351.68 million, a PE ratio of 15.20 and a beta of 0.66. The company has a 50-day simple moving average of $83.55 and a 200 day simple moving average of $84.87.

Invesco KBW Property & Casualty Insurance ETF Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 24th. Investors of record on Tuesday, March 21st were paid a $0.431 dividend. This represents a $1.72 annualized dividend and a yield of 2.15%. The ex-dividend date of this dividend was Monday, March 20th.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. MML Investors Services LLC raised its stake in Invesco KBW Property & Casualty Insurance ETF by 11.2% in the 3rd quarter. MML Investors Services LLC now owns 5,467 shares of the company’s stock valued at $402,000 after purchasing an additional 551 shares during the last quarter. Wealthcare Advisory Partners LLC increased its stake in shares of Invesco KBW Property & Casualty Insurance ETF by 92.9% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 11,000 shares of the company’s stock worth $947,000 after acquiring an additional 5,299 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Invesco KBW Property & Casualty Insurance ETF by 2.9% in the 4th quarter. Envestnet Asset Management Inc. now owns 4,346 shares of the company’s stock worth $374,000 after acquiring an additional 124 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in shares of Invesco KBW Property & Casualty Insurance ETF by 31.8% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 5,568 shares of the company’s stock worth $479,000 after acquiring an additional 1,344 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. increased its stake in shares of Invesco KBW Property & Casualty Insurance ETF by 7.5% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 21,458 shares of the company’s stock worth $1,847,000 after acquiring an additional 1,488 shares during the last quarter.

About Invesco KBW Property & Casualty Insurance ETF

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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.