PNC Financial Services Group Inc. Sells 10,447 Shares of SPDR S&P Bank ETF (NYSEARCA:KBE)

PNC Financial Services Group Inc. reduced its position in shares of SPDR S&P Bank ETF (NYSEARCA:KBE) by 2.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 362,110 shares of the exchange traded fund’s stock after selling 10,447 shares during the quarter. PNC Financial Services Group Inc. owned about 1.23% of SPDR S&P Bank ETF worth $19,152,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in KBE. Janney Capital Management LLC bought a new stake in shares of SPDR S&P Bank ETF during the third quarter valued at approximately $19,805,000. Baker Avenue Asset Management LP acquired a new position in SPDR S&P Bank ETF during the third quarter worth $2,822,000. Alaska Permanent Fund Corp lifted its stake in shares of SPDR S&P Bank ETF by 45.7% in the third quarter. Alaska Permanent Fund Corp now owns 153,000 shares of the exchange traded fund’s stock valued at $8,092,000 after buying an additional 48,000 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of SPDR S&P Bank ETF by 92.7% during the second quarter. Envestnet Asset Management Inc. now owns 91,488 shares of the exchange traded fund’s stock valued at $4,244,000 after buying an additional 44,020 shares during the last quarter. Finally, Retireful LLC bought a new stake in shares of SPDR S&P Bank ETF during the second quarter worth about $1,770,000.

SPDR S&P Bank ETF Stock Performance

Shares of NYSEARCA KBE opened at $60.28 on Friday. The stock has a market cap of $1.77 billion, a price-to-earnings ratio of 7.86 and a beta of 1.42. SPDR S&P Bank ETF has a fifty-two week low of $38.97 and a fifty-two week high of $61.87. The firm’s 50-day simple moving average is $54.96 and its 200 day simple moving average is $50.88.

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.