Sowell Financial Services LLC Acquires Shares of 20,618 SPDR S&P Bank ETF (NYSEARCA:KBE)

Sowell Financial Services LLC bought a new position in SPDR S&P Bank ETF (NYSEARCA:KBE) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 20,618 shares of the exchange traded fund’s stock, valued at approximately $1,144,000. Sowell Financial Services LLC owned approximately 0.07% of SPDR S&P Bank ETF as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Institute for Wealth Management LLC. lifted its stake in SPDR S&P Bank ETF by 4.3% in the 4th quarter. Institute for Wealth Management LLC. now owns 4,606 shares of the exchange traded fund’s stock worth $255,000 after purchasing an additional 189 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of SPDR S&P Bank ETF by 1.6% in the fourth quarter. Janney Montgomery Scott LLC now owns 17,759 shares of the exchange traded fund’s stock worth $985,000 after purchasing an additional 278 shares during the last quarter. IFP Advisors Inc lifted its position in shares of SPDR S&P Bank ETF by 6.4% in the fourth quarter. IFP Advisors Inc now owns 5,000 shares of the exchange traded fund’s stock worth $277,000 after buying an additional 300 shares in the last quarter. Private Advisor Group LLC boosted its stake in SPDR S&P Bank ETF by 1.5% during the fourth quarter. Private Advisor Group LLC now owns 35,106 shares of the exchange traded fund’s stock valued at $1,947,000 after buying an additional 529 shares during the last quarter. Finally, Magnus Financial Group LLC grew its holdings in SPDR S&P Bank ETF by 13.6% during the 4th quarter. Magnus Financial Group LLC now owns 5,166 shares of the exchange traded fund’s stock valued at $287,000 after buying an additional 619 shares in the last quarter.

SPDR S&P Bank ETF Price Performance

NYSEARCA:KBE opened at $51.67 on Tuesday. The company has a market cap of $2.44 billion, a price-to-earnings ratio of 13.73 and a beta of 1.15. SPDR S&P Bank ETF has a 1 year low of $42.77 and a 1 year high of $63.74. The stock’s 50 day simple moving average is $56.99 and its two-hundred day simple moving average is $56.25.

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.