Kovack Advisors Inc. Invests $350,000 in Invesco Taxable Municipal Bond ETF (NYSEARCA:BAB)

Kovack Advisors Inc. acquired a new position in shares of Invesco Taxable Municipal Bond ETF (NYSEARCA:BAB) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 13,178 shares of the company’s stock, valued at approximately $350,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. PNC Financial Services Group Inc. boosted its holdings in shares of Invesco Taxable Municipal Bond ETF by 45.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,043,028 shares of the company’s stock valued at $28,068,000 after buying an additional 325,482 shares during the period. Wealthspire Advisors LLC increased its holdings in shares of Invesco Taxable Municipal Bond ETF by 10.7% in the fourth quarter. Wealthspire Advisors LLC now owns 3,049,364 shares of the company’s stock valued at $82,058,000 after purchasing an additional 294,054 shares during the last quarter. Private Ocean LLC increased its holdings in shares of Invesco Taxable Municipal Bond ETF by 42.6% in the fourth quarter. Private Ocean LLC now owns 898,275 shares of the company’s stock valued at $24,173,000 after purchasing an additional 268,246 shares during the last quarter. Schmidt P J Investment Management Inc. acquired a new position in shares of Invesco Taxable Municipal Bond ETF in the fourth quarter valued at $5,389,000. Finally, Ameriprise Financial Inc. grew its stake in shares of Invesco Taxable Municipal Bond ETF by 8.1% in the third quarter. Ameriprise Financial Inc. now owns 2,147,224 shares of the company’s stock valued at $54,290,000 after acquiring an additional 161,349 shares in the last quarter.

Invesco Taxable Municipal Bond ETF Stock Performance

BAB stock opened at $26.44 on Friday. The company’s 50-day simple moving average is $26.35 and its 200 day simple moving average is $26.46. Invesco Taxable Municipal Bond ETF has a 52 week low of $24.29 and a 52 week high of $27.33. The company has a market capitalization of $1.27 billion, a PE ratio of -199.62 and a beta of 0.22.

Invesco Taxable Municipal Bond ETF Profile

PowerShares Build America Bond Portfolio (the Fund) seeks investment results that correspond generally to the price and yield performance of an index called The BofA Merrill Lynch Build America Bond Index (the Index). The Fund will normally invests at least 80% of its total assets in the securities that comprise the Index.