Invesco KBW Property & Casualty Insurance ETF (NASDAQ:KBWP) Sees Large Increase in Short Interest

Invesco KBW Property & Casualty Insurance ETF (NASDAQ:KBWP) was the recipient of a significant increase in short interest in the month of September. As of September 15th, there was short interest totalling 305,400 shares, an increase of 2,701.8% from the August 31st total of 10,900 shares. Based on an average daily volume of 40,600 shares, the days-to-cover ratio is currently 7.5 days.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. AdvisorNet Financial Inc raised its position in shares of Invesco KBW Property & Casualty Insurance ETF by 8.5% in the 2nd quarter. AdvisorNet Financial Inc now owns 1,323 shares of the company’s stock valued at $135,000 after acquiring an additional 104 shares during the period. WBI Investments LLC bought a new position in Invesco KBW Property & Casualty Insurance ETF during the first quarter worth about $225,000. Hudock Inc. bought a new position in Invesco KBW Property & Casualty Insurance ETF in the second quarter valued at approximately $240,000. Oppenheimer & Co. Inc. acquired a new position in shares of Invesco KBW Property & Casualty Insurance ETF in the first quarter valued at approximately $288,000. Finally, PFG Advisors acquired a new position in Invesco KBW Property & Casualty Insurance ETF in the 1st quarter worth $380,000.

Invesco KBW Property & Casualty Insurance ETF Price Performance

Shares of NASDAQ KBWP traded down $0.45 during mid-day trading on Wednesday, hitting $115.14. The company’s stock had a trading volume of 28,741 shares, compared to its average volume of 31,410. Invesco KBW Property & Casualty Insurance ETF has a one year low of $82.64 and a one year high of $116.95. The company’s fifty day simple moving average is $110.71 and its 200-day simple moving average is $106.55. The stock has a market cap of $332.75 million, a price-to-earnings ratio of 19.40 and a beta of 0.66.

Invesco KBW Property & Casualty Insurance ETF Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Monday, September 23rd will be given a dividend of $0.342 per share. This is a boost from Invesco KBW Property & Casualty Insurance ETF’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend is Monday, September 23rd. This represents a $1.37 annualized dividend and a dividend yield of 1.19%.

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.