Cowa LLC Trims Stock Position in SPDR S&P Bank ETF (NYSEARCA:KBE)

Cowa LLC cut its stake in shares of SPDR S&P Bank ETF (NYSEARCA:KBE) by 4.3% in the 1st quarter, Holdings Channel reports. The fund owned 8,314 shares of the exchange traded fund’s stock after selling 371 shares during the quarter. Cowa LLC’s holdings in SPDR S&P Bank ETF were worth $440,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in KBE. Golden State Wealth Management LLC increased its position in SPDR S&P Bank ETF by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 600 shares of the exchange traded fund’s stock worth $32,000 after purchasing an additional 300 shares during the period. Pandora Wealth Inc. acquired a new position in SPDR S&P Bank ETF during the 1st quarter worth approximately $37,000. Heck Capital Advisors LLC acquired a new stake in shares of SPDR S&P Bank ETF in the 4th quarter worth approximately $51,000. US Bancorp DE grew its holdings in shares of SPDR S&P Bank ETF by 43.9% in the 1st quarter. US Bancorp DE now owns 1,065 shares of the exchange traded fund’s stock worth $56,000 after acquiring an additional 325 shares during the period. Finally, Provident Wealth Management LLC acquired a new stake in shares of SPDR S&P Bank ETF in the 1st quarter worth approximately $66,000.

SPDR S&P Bank ETF Price Performance

KBE opened at $57.84 on Friday. The stock has a market cap of $1.57 billion, a P/E ratio of 12.60 and a beta of 1.14. The stock’s 50 day simple moving average is $56.51 and its 200 day simple moving average is $54.45. SPDR S&P Bank ETF has a 1-year low of $44.34 and a 1-year high of $63.74.

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.