Balentine LLC Makes New Investment in SPDR S&P Bank ETF (NYSEARCA:KBE)

Balentine LLC purchased a new stake in SPDR S&P Bank ETF (NYSEARCA:KBE) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 2,640 shares of the exchange traded fund’s stock, valued at approximately $140,000.

Several other institutional investors and hedge funds also recently made changes to their positions in KBE. US Bancorp DE boosted its position in shares of SPDR S&P Bank ETF by 678.9% during the third quarter. US Bancorp DE now owns 740 shares of the exchange traded fund’s stock worth $39,000 after buying an additional 645 shares during the period. Lynx Investment Advisory acquired a new position in SPDR S&P Bank ETF during the 2nd quarter worth approximately $45,000. Fifth Third Bancorp grew its stake in shares of SPDR S&P Bank ETF by 9.6% during the 2nd quarter. Fifth Third Bancorp now owns 2,520 shares of the exchange traded fund’s stock worth $117,000 after acquiring an additional 220 shares in the last quarter. Massmutual Trust Co. FSB ADV acquired a new stake in shares of SPDR S&P Bank ETF in the second quarter valued at approximately $134,000. Finally, Farther Finance Advisors LLC bought a new stake in shares of SPDR S&P Bank ETF in the third quarter worth $193,000.

SPDR S&P Bank ETF Trading Up 1.6 %

Shares of KBE opened at $54.67 on Wednesday. The stock has a market capitalization of $1.60 billion, a price-to-earnings ratio of 7.86 and a beta of 1.42. SPDR S&P Bank ETF has a 12 month low of $36.45 and a 12 month high of $56.41. The firm has a fifty day simple moving average of $53.27 and a 200 day simple moving average of $49.78.

About SPDR S&P Bank ETF

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.