Norden Group LLC Makes New $6.70 Million Investment in SPDR S&P Bank ETF $KBE

Norden Group LLC bought a new stake in shares of SPDR S&P Bank ETF (NYSEARCA:KBE) in the third quarter, HoldingsChannel reports. The institutional investor bought 112,695 shares of the exchange traded fund’s stock, valued at approximately $6,696,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Ameritas Advisory Services LLC purchased a new position in shares of SPDR S&P Bank ETF during the second quarter valued at $35,000. TD Waterhouse Canada Inc. grew its holdings in SPDR S&P Bank ETF by 24.9% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 3,509 shares of the exchange traded fund’s stock worth $201,000 after acquiring an additional 700 shares in the last quarter. HB Wealth Management LLC bought a new position in SPDR S&P Bank ETF during the 2nd quarter worth about $203,000. Stratos Wealth Partners LTD. purchased a new position in SPDR S&P Bank ETF during the 2nd quarter valued at about $221,000. Finally, Tyler Stone Wealth Management bought a new stake in shares of SPDR S&P Bank ETF in the 2nd quarter valued at about $243,000.

SPDR S&P Bank ETF Stock Performance

Shares of KBE opened at $62.34 on Thursday. The company has a 50 day moving average price of $58.76 and a 200-day moving average price of $58.33. SPDR S&P Bank ETF has a fifty-two week low of $44.34 and a fifty-two week high of $63.28. The stock has a market capitalization of $1.49 billion, a PE ratio of 12.60 and a beta of 0.97.

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).