SPDR KBW Bank (KBE) Sees Significant Growth in Short Interest
SPDR KBW Bank (NYSEARCA:KBE) saw a large growth in short interest in December. As of December 29th, there was short interest totalling 6,217,315 shares, a growth of 91.1% from the December 15th total of 3,252,711 shares. Based on an average daily volume of 2,142,084 shares, the short-interest ratio is presently 2.9 days.
A number of hedge funds have recently bought and sold shares of the business. Advisory Services Network LLC increased its holdings in shares of SPDR KBW Bank by 54.7% in the 2nd quarter. Advisory Services Network LLC now owns 2,742 shares of the exchange traded fund’s stock valued at $119,000 after acquiring an additional 969 shares during the last quarter. Boston Advisors LLC purchased a new position in shares of SPDR KBW Bank in the 3rd quarter valued at about $210,000. First Citizens Bank & Trust Co. purchased a new position in shares of SPDR KBW Bank in the 4th quarter valued at about $237,000. LGL Partners LLC purchased a new position in shares of SPDR KBW Bank in the 3rd quarter valued at about $233,000. Finally, FMR LLC purchased a new position in shares of SPDR KBW Bank in the 2nd quarter valued at about $262,000.
Shares of SPDR KBW Bank (KBE) opened at $50.36 on Monday. The stock has a market capitalization of $4,160.00 and a PE ratio of 9.56. SPDR KBW Bank has a 12-month low of $39.60 and a 12-month high of $50.55.
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About SPDR KBW Bank
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.
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