Madison Investment Advisors LLC Invests $14.44 Million in SPDR S&P Bank ETF (NYSEARCA:KBE)

Madison Investment Advisors LLC acquired a new position in SPDR S&P Bank ETF (NYSEARCA:KBE) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 260,368 shares of the exchange traded fund’s stock, valued at approximately $14,443,000.

Several other large investors also recently made changes to their positions in KBE. Citigroup Inc. boosted its stake in shares of SPDR S&P Bank ETF by 372.7% in the third quarter. Citigroup Inc. now owns 1,339,899 shares of the exchange traded fund’s stock valued at $70,867,000 after purchasing an additional 1,056,448 shares during the period. Harel Insurance Investments & Financial Services Ltd. boosted its stake in shares of SPDR S&P Bank ETF by 290.0% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,170,000 shares of the exchange traded fund’s stock valued at $64,900,000 after purchasing an additional 870,000 shares during the period. Tlwm purchased a new position in shares of SPDR S&P Bank ETF in the fourth quarter valued at $17,871,000. Raymond James Financial Inc. purchased a new position in shares of SPDR S&P Bank ETF in the fourth quarter valued at $11,709,000. Finally, SPX Gestao de Recursos Ltda purchased a new position in shares of SPDR S&P Bank ETF in the fourth quarter valued at $6,253,000.

SPDR S&P Bank ETF Trading Up 1.0 %

Shares of KBE stock opened at $51.81 on Thursday. SPDR S&P Bank ETF has a twelve month low of $42.77 and a twelve month high of $63.74. The company has a market capitalization of $2.45 billion, a PE ratio of 13.73 and a beta of 1.15. The firm has a fifty day simple moving average of $56.83 and a 200-day simple moving average of $56.20.

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.