Envestnet Asset Management Inc. Sells 35,443 Shares of SPDR S&P Bank ETF $KBE

Envestnet Asset Management Inc. decreased its stake in shares of SPDR S&P Bank ETF (NYSEARCA:KBE) by 57.7% during the third quarter, HoldingsChannel reports. The firm owned 25,969 shares of the exchange traded fund’s stock after selling 35,443 shares during the quarter. Envestnet Asset Management Inc.’s holdings in SPDR S&P Bank ETF were worth $1,543,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of KBE. Jones Financial Companies Lllp boosted its position in shares of SPDR S&P Bank ETF by 798.4% during the third quarter. Jones Financial Companies Lllp now owns 10,125 shares of the exchange traded fund’s stock valued at $611,000 after purchasing an additional 8,998 shares in the last quarter. Mutual Advisors LLC lifted its position in SPDR S&P Bank ETF by 51.3% during the third quarter. Mutual Advisors LLC now owns 16,398 shares of the exchange traded fund’s stock valued at $933,000 after buying an additional 5,561 shares during the period. FSA Wealth Partners Inc. bought a new stake in shares of SPDR S&P Bank ETF during the 3rd quarter valued at $815,000. Foundations Investment Advisors LLC bought a new stake in shares of SPDR S&P Bank ETF during the 3rd quarter valued at $573,000. Finally, Belpointe Asset Management LLC grew its position in shares of SPDR S&P Bank ETF by 175.2% in the 3rd quarter. Belpointe Asset Management LLC now owns 16,777 shares of the exchange traded fund’s stock worth $997,000 after buying an additional 10,681 shares during the period.

SPDR S&P Bank ETF Price Performance

NYSEARCA:KBE opened at $61.05 on Monday. The firm has a market capitalization of $1.47 billion, a P/E ratio of 12.60 and a beta of 0.97. SPDR S&P Bank ETF has a one year low of $44.34 and a one year high of $67.75. The company’s 50-day simple moving average is $63.60 and its 200 day simple moving average is $60.74.

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. The S&P Banks Select Industry Index consists of common stocks of national money centers and regional banks or thrifts listed on the New York Stock Exchange (NYSE) or another United States national securities exchange, (NASDAQ)/National Market System (NMS).