ProVise Management Group LLC Lowers Stake in SPDR S&P Bank ETF (NYSEARCA:KBE)

ProVise Management Group LLC lessened its position in shares of SPDR S&P Bank ETF (NYSEARCA:KBE) by 3.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 189,778 shares of the exchange traded fund’s stock after selling 5,952 shares during the period. ProVise Management Group LLC’s holdings in SPDR S&P Bank ETF were worth $10,527,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. US Bancorp DE lifted its stake in shares of SPDR S&P Bank ETF by 678.9% during the third quarter. US Bancorp DE now owns 740 shares of the exchange traded fund’s stock worth $39,000 after purchasing an additional 645 shares in the last quarter. MAI Capital Management lifted its stake in shares of SPDR S&P Bank ETF by 36.7% during the third quarter. MAI Capital Management now owns 14,225 shares of the exchange traded fund’s stock worth $752,000 after purchasing an additional 3,821 shares in the last quarter. Prospera Financial Services Inc acquired a new position in shares of SPDR S&P Bank ETF in the third quarter worth about $1,207,000. Citigroup Inc. lifted its stake in shares of SPDR S&P Bank ETF by 372.7% in the third quarter. Citigroup Inc. now owns 1,339,899 shares of the exchange traded fund’s stock worth $70,867,000 after acquiring an additional 1,056,448 shares in the last quarter. Finally, FMR LLC lifted its stake 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 acquiring an additional 736 shares in the last quarter.

SPDR S&P Bank ETF Stock Performance

NYSEARCA:KBE opened at $53.10 on Wednesday. SPDR S&P Bank ETF has a one year low of $42.77 and a one year high of $63.74. The business’s 50-day simple moving average is $56.61 and its 200 day simple moving average is $56.20. The stock has a market cap of $2.25 billion, a price-to-earnings ratio of 12.60 and a beta of 1.14.

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.