Fund flows to KBE
Exchange-traded fund investors have withdrawn $89.5 million from the SPDR S&P Bank ETF (KBE) during December. In 2015, KBE witnessed inflows of $49 million. During the week ending December 31, 2015, the KBE fund has seen investor outflows of $141 million. The shares of KBE have generated returns of -3.0% in 2015, and in December, KBE has returned -2.9%.
Changes in institutional investor holdings in 3Q15
Despite the positive flows to the KBE ETF over the year, the 13F filings of major institutional asset managers for the third quarter of 2015 give a gloomy picture.
In the third quarter of 2o15, trade activity by 13F filers displayed a 13.1% fall in aggregate shares that were 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 in the ETF. However, 40 funds created new positions, and 20 funds raised their exposure to KBE.
Major institutional holders like Franklin Resources (BEN), Schroder Investment Management, Wexford Capital, Bank of America (BAC), and JPMorgan Chase (JPM) bought shares of KBE during the third quarter of 2015.