Ocean Park Asset Management LLC Invests $483,000 in SPDR S&P Bank ETF (NYSEARCA:KBE)

Ocean Park Asset Management LLC acquired a new stake in shares of SPDR S&P Bank ETF (NYSEARCA:KBE) in the fourth quarter, Holdings Channel reports. The fund acquired 8,700 shares of the exchange traded fund’s stock, valued at approximately $483,000.

Several other institutional investors have also modified their holdings of KBE. FMR LLC boosted its position in shares of SPDR S&P Bank ETF by 20.6% during 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 period. Sanctuary Advisors LLC acquired a new position in SPDR S&P Bank ETF during the 3rd quarter worth $295,000. Janney Montgomery Scott LLC grew its stake 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 in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of SPDR S&P Bank ETF by 14.8% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 5,968 shares of the exchange traded fund’s stock valued at $316,000 after purchasing an additional 769 shares during the period. Finally, CX Institutional bought a new stake in shares of SPDR S&P Bank ETF during the third quarter valued at about $340,000.

SPDR S&P Bank ETF Stock Down 1.1 %

KBE stock opened at $58.62 on Tuesday. The company has a market capitalization of $1.72 billion, a P/E ratio of 7.86 and a beta of 1.42. The company has a 50-day simple moving average of $57.58 and a 200 day simple moving average of $55.40. SPDR S&P Bank ETF has a fifty-two week low of $42.24 and a fifty-two week 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.