Short Interest in SPDR S&P Bank ETF (NYSEARCA:KBE) Grows By 149.2%

SPDR S&P Bank ETF (NYSEARCA:KBE) was the recipient of a significant growth in short interest in the month of May. As of May 15th, there was short interest totaling 10,336,493 shares, a growth of 149.2% from the April 30th total of 4,147,684 shares. Based on an average daily trading volume, of 2,663,580 shares, the days-to-cover ratio is currently 3.9 days. Currently, 44.4% of the company’s shares are short sold.

Hedge Funds Weigh In On SPDR S&P Bank ETF

Hedge funds have recently added to or reduced their stakes in the stock. Monetary Management Group Inc. acquired a new stake in shares of SPDR S&P Bank ETF during the third quarter worth about $30,000. FWL Investment Management LLC acquired a new stake in shares of SPDR S&P Bank ETF during the third quarter worth about $32,000. Advocate Investing Services LLC acquired a new stake in shares of SPDR S&P Bank ETF during the fourth quarter worth about $43,000. Camelot Portfolios LLC acquired a new stake in shares of SPDR S&P Bank ETF during the fourth quarter worth about $50,000. Finally, MWA Asset Management acquired a new stake in shares of SPDR S&P Bank ETF during the first quarter worth about $56,000.

SPDR S&P Bank ETF Trading Up 0.0%

NYSEARCA:KBE opened at $63.49 on Friday. SPDR S&P Bank ETF has a 1-year low of $52.09 and a 1-year high of $67.75. The business’s 50-day moving average price is $62.30 and its two-hundred day moving average price is $61.90. The firm has a market capitalization of $1.48 billion, a price-to-earnings ratio of 12.60 and a beta of 0.92.

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).