SPDR S&P Bank ETF (NYSEARCA:KBE) Shares Gap Down to $40.88

SPDR S&P Bank ETF (NYSEARCA:KBE – Get Rating)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $40.88, but opened at $37.58. SPDR S&P Bank ETF shares last traded at $36.31, with a volume of 3,220,162 shares.

SPDR S&P Bank ETF Trading Up 1.9 %

The firm has a market capitalization of $1.36 billion, a PE ratio of 9.13 and a beta of 1.17. The business’s 50 day simple moving average is $47.26 and its 200 day simple moving average is $47.04.

Hedge Funds Weigh In On SPDR S&P Bank ETF

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Rockefeller Capital Management L.P. boosted its stake in shares of SPDR S&P Bank ETF by 498.7% during the 4th quarter. Rockefeller Capital Management L.P. now owns 50,095 shares of the exchange traded fund’s stock worth $2,260,000 after purchasing an additional 41,728 shares during the period. Truist Financial Corp boosted its stake in shares of SPDR S&P Bank ETF by 67.1% during the 4th quarter. Truist Financial Corp now owns 47,145 shares of the exchange traded fund’s stock worth $2,129,000 after purchasing an additional 18,928 shares during the period. Cerity Partners LLC boosted its stake in shares of SPDR S&P Bank ETF by 64.0% during the 4th quarter. Cerity Partners LLC now owns 9,452 shares of the exchange traded fund’s stock worth $427,000 after purchasing an additional 3,690 shares during the period. Laidlaw Wealth Management LLC purchased a new position in shares of SPDR S&P Bank ETF during the 4th quarter worth about $271,000. Finally, Morgan Stanley lifted its holdings in SPDR S&P Bank ETF by 48.5% during the 4th quarter. Morgan Stanley now owns 2,694,163 shares of the exchange traded fund’s stock valued at $121,641,000 after buying an additional 879,976 shares in the last quarter.

About SPDR S&P Bank ETF

(Get Rating)

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.