Wealth Management Solutions LLC Has $1.87 Million Position in SPDR S&P Bank ETF (NYSEARCA:KBE)

Wealth Management Solutions LLC lowered its stake in SPDR S&P Bank ETF (NYSEARCA:KBE – Get Rating) by 62.8% in the third quarter, HoldingsChannel.com reports. The firm owned 42,141 shares of the exchange traded fund’s stock after selling 71,101 shares during the quarter. SPDR S&P Bank ETF comprises 1.1% of Wealth Management Solutions LLC’s investment portfolio, making the stock its 16th largest position. Wealth Management Solutions LLC’s holdings in SPDR S&P Bank ETF were worth $1,866,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Coastal Investment Advisors Inc. acquired a new stake in shares of SPDR S&P Bank ETF in the third quarter valued at approximately $32,000. Lehman & Derafelo Financial Resources LLC acquired a new stake in SPDR S&P Bank ETF during the 2nd quarter worth $67,000. Baltimore Washington Financial Advisors Inc. acquired a new stake in SPDR S&P Bank ETF during the 1st quarter worth $232,000. Franklin Resources Inc. acquired a new stake in SPDR S&P Bank ETF during the 2nd quarter worth $111,000. Finally, Oxford Financial Group Ltd. acquired a new stake in SPDR S&P Bank ETF during the 1st quarter worth $157,000.

SPDR S&P Bank ETF Stock Down 0.9 %

KBE opened at $46.58 on Wednesday. The company has a fifty day moving average price of $46.50 and a two-hundred day moving average price of $47.20. SPDR S&P Bank ETF has a 52 week low of $42.57 and a 52 week high of $58.75.

SPDR S&P Bank ETF Company Profile

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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.