Foundations Investment Advisors LLC Invests $573,000 in SPDR S&P Bank ETF $KBE

Foundations Investment Advisors LLC purchased a new position in shares of SPDR S&P Bank ETF (NYSEARCA:KBE) during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 9,639 shares of the exchange traded fund’s stock, valued at approximately $573,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Belpointe Asset Management LLC raised its position in shares of SPDR S&P Bank ETF by 175.2% during the third quarter. Belpointe Asset Management LLC now owns 16,777 shares of the exchange traded fund’s stock worth $997,000 after acquiring an additional 10,681 shares during the last quarter. HHM Wealth Advisors LLC increased its stake in SPDR S&P Bank ETF by 3,886.4% in the third quarter. HHM Wealth Advisors LLC now owns 877 shares of the exchange traded fund’s stock valued at $52,000 after purchasing an additional 855 shares in the last quarter. Vectors Research Management LLC increased its position in shares of SPDR S&P Bank ETF by 160.3% in the 3rd quarter. Vectors Research Management LLC now owns 11,164 shares of the exchange traded fund’s stock valued at $663,000 after buying an additional 6,875 shares in the last quarter. Magnus Financial Group LLC increased its holdings in shares of SPDR S&P Bank ETF by 17.5% in the third quarter. Magnus Financial Group LLC now owns 7,756 shares of the exchange traded fund’s stock worth $461,000 after acquiring an additional 1,154 shares in the last quarter. Finally, GRIMES & Co WEALTH MANAGEMENT LLC bought a new stake in SPDR S&P Bank ETF during the 3rd quarter worth approximately $207,000.

SPDR S&P Bank ETF Trading Up 1.5%

Shares of NYSEARCA KBE opened at $64.50 on Tuesday. The company has a fifty day moving average price of $62.05 and a 200 day moving average price of $59.69. SPDR S&P Bank ETF has a 1-year low of $44.34 and a 1-year high of $65.82. The firm has a market cap of $1.55 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).