Rialto Wealth Management LLC Makes New $51,000 Investment in SPDR S&P Bank ETF (NYSEARCA:KBE)

Rialto Wealth Management LLC purchased a new stake in shares of SPDR S&P Bank ETF (NYSEARCA:KBE) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 915 shares of the exchange traded fund’s stock, valued at approximately $51,000.

Several other hedge funds have also made changes to their positions in KBE. FMR LLC raised its holdings 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 acquiring an additional 736 shares in the last quarter. Sanctuary Advisors LLC bought a new position in SPDR S&P Bank ETF during the third quarter valued at about $295,000. Janney Montgomery Scott LLC lifted its position 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 buying an additional 278 shares during the last quarter. Truist Financial Corp boosted its stake in shares of SPDR S&P Bank ETF by 7.0% during the 4th quarter. Truist Financial Corp now owns 9,972 shares of the exchange traded fund’s stock worth $553,000 after acquiring an additional 649 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in shares of SPDR S&P Bank ETF by 14.8% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 5,968 shares of the exchange traded fund’s stock valued at $316,000 after acquiring an additional 769 shares during the last quarter.

SPDR S&P Bank ETF Stock Performance

KBE opened at $53.74 on Monday. The business has a 50 day moving average price of $57.06 and a 200 day moving average price of $56.25. The firm has a market cap of $2.54 billion, a P/E ratio of 13.73 and a beta of 1.15. SPDR S&P Bank ETF has a twelve month low of $42.77 and a twelve month high of $63.74.

SPDR S&P Bank ETF 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.