Forum Financial Management LP Invests $942,000 in SPDR S&P Bank ETF (NYSEARCA:KBE)

Forum Financial Management LP acquired a new position in SPDR S&P Bank ETF (NYSEARCA:KBE) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 16,979 shares of the exchange traded fund’s stock, valued at approximately $942,000.

Several other hedge funds have also recently bought and sold shares of KBE. FMR LLC lifted its position in shares of SPDR S&P Bank ETF by 20.6% in the third quarter. FMR LLC now owns 4,309 shares of the exchange traded fund’s stock worth $229,000 after buying an additional 736 shares during the last quarter. Sanctuary Advisors LLC bought a new position in shares of SPDR S&P Bank ETF in the 3rd quarter valued at approximately $295,000. Wilmington Savings Fund Society FSB acquired a new stake in SPDR S&P Bank ETF in the 3rd quarter worth approximately $88,000. International Assets Investment Management LLC bought a new stake in SPDR S&P Bank ETF during the fourth quarter worth approximately $209,000. Finally, Tlwm acquired a new position in SPDR S&P Bank ETF during the fourth quarter valued at approximately $17,871,000.

SPDR S&P Bank ETF Trading Up 0.7 %

Shares of SPDR S&P Bank ETF stock opened at $48.09 on Friday. The firm has a fifty day simple moving average of $52.77 and a 200-day simple moving average of $55.75. The stock has a market capitalization of $1.82 billion, a price-to-earnings ratio of 12.58 and a beta of 0.99. SPDR S&P Bank ETF has a 1-year low of $43.64 and a 1-year high of $63.74.

SPDR S&P Bank ETF Company 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.