SPDR S&P Bank ETF (NYSEARCA:KBE) Sees Large Volume Increase – What’s Next?
by Doug Wharley · The Cerbat GemSPDR S&P Bank ETF (NYSEARCA:KBE – Get Free Report) saw unusually-strong trading volume on Thursday . Approximately 1,427,612 shares traded hands during trading, a decline of 38% from the previous session’s volume of 2,301,370 shares.The stock last traded at $63.06 and had previously closed at $63.36.
SPDR S&P Bank ETF Stock Down 0.8%
The firm has a fifty day simple moving average of $61.55 and a 200-day simple moving average of $61.61. The company has a market cap of $1.46 billion, a PE ratio of 12.60 and a beta of 0.92.
Hedge Funds Weigh In On SPDR S&P Bank ETF
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Two Sigma Investments LP grew its holdings in shares of SPDR S&P Bank ETF by 13.8% during the third quarter. Two Sigma Investments LP now owns 2,030,440 shares of the exchange traded fund’s stock worth $120,649,000 after buying an additional 246,600 shares during the last quarter. Duquesne Family Office LLC purchased a new position in shares of SPDR S&P Bank ETF during the third quarter worth about $28,646,000. Royal Bank of Canada grew its holdings in shares of SPDR S&P Bank ETF by 262.0% during the fourth quarter. Royal Bank of Canada now owns 463,143 shares of the exchange traded fund’s stock worth $28,109,000 after buying an additional 335,194 shares during the last quarter. Madison Asset Management LLC grew its holdings in shares of SPDR S&P Bank ETF by 16.4% during the third quarter. Madison Asset Management LLC now owns 420,694 shares of the exchange traded fund’s stock worth $24,998,000 after buying an additional 59,356 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in shares of SPDR S&P Bank ETF by 0.7% during the third quarter. PNC Financial Services Group Inc. now owns 381,702 shares of the exchange traded fund’s stock worth $22,681,000 after buying an additional 2,761 shares during the last quarter.
SPDR S&P Bank ETF Company Profile
SPDR KBW Bank ETF, formerly The SPDR S&P Bank ETF (the Fund), seeks to closely match the returns and characteristics of the S&P Banks Select Industry Index. The S&P Banks Select Industry Index is a float adjusted modified-market, capitalization-weighted index that seeks to reflect the performance of publicly traded companies that do business as banks or thrifts. The S&P Banks Select Industry Index consists of common stocks of national money centers and regional banks or thrifts listed on the New York Stock Exchange (NYSE) or another United States national securities exchange, (NASDAQ)/National Market System (NMS).