Exchange Capital Management Inc. Cuts Stake in SPDR S&P Bank ETF $KBE

Exchange Capital Management Inc. lessened its stake in shares of SPDR S&P Bank ETF (NYSEARCA:KBE) by 18.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,495 shares of the exchange traded fund’s stock after selling 1,229 shares during the quarter. Exchange Capital Management Inc.’s holdings in SPDR S&P Bank ETF were worth $306,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the stock. Golden State Wealth Management LLC lifted 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 acquiring an additional 300 shares in the last quarter. Pandora Wealth Inc. acquired a new stake in SPDR S&P Bank ETF in the first quarter valued at approximately $37,000. US Bancorp DE raised its stake in shares of SPDR S&P Bank ETF by 43.9% during the first quarter. US Bancorp DE now owns 1,065 shares of the exchange traded fund’s stock valued at $56,000 after purchasing an additional 325 shares during the period. Provident Wealth Management LLC acquired a new position in shares of SPDR S&P Bank ETF during the first quarter worth $66,000. Finally, NBC Securities Inc. lifted its position in shares of SPDR S&P Bank ETF by 125,300.0% during the first quarter. NBC Securities Inc. now owns 1,254 shares of the exchange traded fund’s stock worth $66,000 after purchasing an additional 1,253 shares in the last quarter.

SPDR S&P Bank ETF Trading Up 0.7%

Shares of KBE stock opened at $59.28 on Friday. The firm has a fifty day simple moving average of $59.24 and a 200-day simple moving average of $55.36. The company has a market capitalization of $1.54 billion, a PE ratio of 12.60 and a beta of 1.14. SPDR S&P Bank ETF has a twelve month low of $44.34 and a twelve month 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.