BNP Paribas Financial Markets Trims Stock Position in SPDR S&P Bank ETF (NYSEARCA:KBE)

BNP Paribas Financial Markets decreased its position in SPDR S&P Bank ETF (NYSEARCA:KBE) by 89.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,960 shares of the exchange traded fund’s stock after selling 16,999 shares during the period. BNP Paribas Financial Markets’ holdings in SPDR S&P Bank ETF were worth $104,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in KBE. Citigroup Inc. increased its position in shares of SPDR S&P Bank ETF by 372.7% during the 3rd quarter. Citigroup Inc. now owns 1,339,899 shares of the exchange traded fund’s stock worth $70,867,000 after purchasing an additional 1,056,448 shares during the last quarter. Janney Capital Management LLC purchased a new position in SPDR S&P Bank ETF during the third quarter worth about $19,805,000. Baker Avenue Asset Management LP acquired a new stake in shares of SPDR S&P Bank ETF during the third quarter valued at about $2,822,000. Alaska Permanent Fund Corp increased its position in shares of SPDR S&P Bank ETF by 45.7% during the third quarter. Alaska Permanent Fund Corp now owns 153,000 shares of the exchange traded fund’s stock valued at $8,092,000 after acquiring an additional 48,000 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in shares of SPDR S&P Bank ETF by 92.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 91,488 shares of the exchange traded fund’s stock valued at $4,244,000 after acquiring an additional 44,020 shares during the period.

SPDR S&P Bank ETF Stock Performance

NYSEARCA:KBE opened at $55.25 on Thursday. SPDR S&P Bank ETF has a fifty-two week low of $42.13 and a fifty-two week high of $63.74. The company has a 50 day moving average price of $58.15 and a 200 day moving average price of $52.78. The stock has a market capitalization of $1.62 billion, a P/E 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.