How Have KBE’s Fund Flows Been in 2016?



Fund flows to KBE

ETF investors withdrew $108 million from the SPDR S&P Bank ETF (KBE) in January 2016. However, in February, investors pulled $15.5 million out from KBE. In 2015, investors plowed $49 million into KBE.

Year-to-date, investors have withdrawn $140 million from KBE. Of this amount, $34 million was withdrawn last week. Shares of KBE have generated returns of -14.8% in 2016 to date. However, KBE saw a rise of 2.1% last week.

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Changes in institutional investors’ holdings in 4Q15

13F filings of major institutional asset managers for 4Q15 gave a positive picture for KBE.

In 4Q15, trade activity by 13F filers displayed a 9.2% increase in aggregate shares held by institutional investors and hedge funds. Among the 146 13F filers holding the stock, 36 funds reduced their exposures to KBE, and 20 funds sold all of their holdings. However, 43 funds created new positions, and 30 funds increased their exposures to KBE.

Major institutional holders such as Migdal Insurance, UBS, Morgan Stanley (MS), Credit Suisse (CS), and JPMorgan Chase (JPM) bought shares of KBE during the fourth quarter.

Meanwhile, institutional investors such as Goldman Sachs (GS), Franklin Resources, Wexford Capital, and Citigroup were the top sellers of KBE in the fourth quarter.


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