Short Interest in Invesco KBW Property & Casualty Insurance ETF (NASDAQ:KBWP) Declines By 62.5%

Invesco KBW Property & Casualty Insurance ETF (NASDAQ:KBWP) saw a large decrease in short interest in the month of June. As of June 30th, there was short interest totalling 2,400 shares, a decrease of 62.5% from the June 15th total of 6,400 shares. Based on an average daily trading volume, of 23,800 shares, the days-to-cover ratio is currently 0.1 days.

Invesco KBW Property & Casualty Insurance ETF Stock Performance

Shares of Invesco KBW Property & Casualty Insurance ETF stock traded up $0.93 during trading on Thursday, hitting $103.57. 8,892 shares of the company’s stock were exchanged, compared to its average volume of 25,903. The stock has a market capitalization of $307.60 million, a price-to-earnings ratio of 19.40 and a beta of 0.66. The business has a 50-day simple moving average of $104.21 and a 200-day simple moving average of $101.50. Invesco KBW Property & Casualty Insurance ETF has a 52-week low of $79.30 and a 52-week high of $107.99.

Invesco KBW Property & Casualty Insurance ETF Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Monday, June 24th were issued a dividend of $0.3064 per share. This represents a $1.23 annualized dividend and a dividend yield of 1.18%. The ex-dividend date was Monday, June 24th.

Institutional Trading of Invesco KBW Property & Casualty Insurance ETF

A number of hedge funds have recently added to or reduced their stakes in the company. Brookstone Capital Management acquired a new stake in Invesco KBW Property & Casualty Insurance ETF in the 4th quarter valued at about $241,000. Raymond James & Associates lifted its position in Invesco KBW Property & Casualty Insurance ETF by 338.4% during the fourth quarter. Raymond James & Associates now owns 20,658 shares of the company’s stock worth $1,870,000 after buying an additional 15,946 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in Invesco KBW Property & Casualty Insurance ETF by 4.9% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 3,103 shares of the company’s stock worth $281,000 after buying an additional 144 shares during the last quarter. Fulcrum Equity Management purchased a new stake in Invesco KBW Property & Casualty Insurance ETF in the 4th quarter valued at $1,187,000. Finally, Hudock Inc. acquired a new stake in shares of Invesco KBW Property & Casualty Insurance ETF in the 4th quarter worth $209,000.

Invesco KBW Property & Casualty Insurance ETF Company Profile

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.