KBE’s Inflows Reached $17 Million the Week Ended December 11



Fund flows to KBE

Exchange-traded fund investors have added $35.4 million in the SPDR S&P Bank ETF (KBE) during the month of December so far. Year-to-date, investors have plowed $90.8 million into KBE.

During the week ended December 11, KBE’s investors saw inflows of $17.4 million. Shares of KBE have generated returns of 0.3% year-to-date. In the past month, KBE has returned -3.9% amid speculations of a rate hike and a junk bond sell-off.

Article continues below advertisement

Changes in institutional investors holdings in 3Q15

Despite the positive flows to KBE during the year, the 13F filings of major institutional asset managers for the third quarter of 2015 offered a gloomy picture.

In 3Q15, trade activity by 13F filers displayed a 13.1% decline in aggregate shares held by institutional investors and hedge funds. Among the 133 13F filers holding the stock, 43 funds reduced their exposure to KBE, while 21 funds sold all their holdings. However, 40 funds created new positions and 20 funds increased their exposure to KBE.

Major institutional holders Franklin Resources (BEN), Schroder Investment Management, Wexford Capital, Bank of America (BAC), and JPMorgan Chase (JPM) bought shares of KBE during the third quarter.

Meanwhile, institutional investors Goldman Sachs (GS), Citigroup (C), Morgan Stanley, Barclays, and Stadion Money Management significantly reduced their exposure to KBE.


More From Market Realist