Connective Portfolio Management LLC Acquires Shares of 8,000 SPDR S&P Bank ETF (NYSEARCA:KBE)

Connective Portfolio Management LLC acquired a new stake in shares of SPDR S&P Bank ETF (NYSEARCA:KBE) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 8,000 shares of the exchange traded fund’s stock, valued at approximately $423,000.

Several other large investors have also bought and sold shares of the company. Sovereign Financial Group Inc. purchased a new position in shares of SPDR S&P Bank ETF during the third quarter valued at approximately $208,000. Park Avenue Securities LLC purchased a new position in shares of SPDR S&P Bank ETF during the third quarter valued at approximately $362,000. Creative Planning lifted its holdings in shares of SPDR S&P Bank ETF by 3.3% during the second quarter. Creative Planning now owns 6,313 shares of the exchange traded fund’s stock valued at $293,000 after purchasing an additional 200 shares during the last quarter. Ascent Group LLC purchased a new position in shares of SPDR S&P Bank ETF during the second quarter valued at approximately $858,000. Finally, Discovery Capital Management LLC CT purchased a new position in shares of SPDR S&P Bank ETF during the second quarter valued at approximately $897,000.

SPDR S&P Bank ETF Price Performance

NYSEARCA KBE traded up $0.39 during mid-day trading on Wednesday, reaching $52.37. The stock had a trading volume of 165,402 shares, compared to its average volume of 1,999,276. The company has a fifty day moving average price of $51.73 and a 200 day moving average price of $48.45. SPDR S&P Bank ETF has a 1 year low of $33.97 and a 1 year high of $55.04. The stock has a market cap of $1.54 billion, a PE ratio of 7.86 and a beta of 1.42.

SPDR S&P Bank ETF 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.