SPDR S&P Regional Banking ETF (NYSEARCA:KRE) was the target of a significant drop in short interest in the month of March. As of March 15th, there was short interest totalling 26,529,259 shares, a drop of 12.6% from the February 28th total of 30,355,381 shares. Based on an average daily volume of 6,017,978 shares, the days-to-cover ratio is currently 4.4 days.
Shares of NYSEARCA KRE traded up $0.56 during mid-day trading on Friday, reaching $55.33. 7,644,575 shares of the company’s stock traded hands, compared to its average volume of 8,377,761. SPDR S&P Regional Banking ETF has a 1-year low of $43.95 and a 1-year high of $66.04.
Several hedge funds and other institutional investors have recently bought and sold shares of KRE. Aspire Private Capital LLC acquired a new position in shares of SPDR S&P Regional Banking ETF in the fourth quarter worth $35,000. Kwmg LLC bought a new stake in shares of SPDR S&P Regional Banking ETF in the fourth quarter valued at about $43,000. Truvestments Capital LLC bought a new stake in shares of SPDR S&P Regional Banking ETF in the first quarter valued at about $50,000. Bay Harbor Wealth Management LLC raised its holdings in shares of SPDR S&P Regional Banking ETF by 291.7% in the first quarter. Bay Harbor Wealth Management LLC now owns 1,038 shares of the exchange traded fund’s stock valued at $53,000 after acquiring an additional 773 shares in the last quarter. Finally, SRS Capital Advisors Inc. raised its holdings in shares of SPDR S&P Regional Banking ETF by 1,197.7% in the fourth quarter. SRS Capital Advisors Inc. now owns 2,232 shares of the exchange traded fund’s stock valued at $104,000 after acquiring an additional 2,060 shares in the last quarter.
SPDR S&P Regional Banking ETF Company Profile
SPDR KBW Regional Banking ETF, formerly SPDR S&P Regional Banking ETF, seeks to closely match the returns and characteristics of the S&P Regional Banks Select Industry Index. Its approach is designed to provide portfolios with low portfolio turnover, tracking, and lower costs. As of October 27, 2011, the Company’s holding included Privatebancorp Inc, Webster Finl Corp Conn, Umpqua Hldgs Corp, Firstmerit Corp, East West Bancorp Inc, Fifth Third Bancorp, Fnb Corp Pa, Susquehanna Bancshares Inc and Keycorp New and First Rep Bk San Fran Cali.
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