Institute for Wealth Management LLC. Reduces Stock Position in SPDR S&P Regional Banking ETF (NYSEARCA:KRE)

Institute for Wealth Management LLC. cut its stake in SPDR S&P Regional Banking ETF (NYSEARCA:KRE) by 9.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 13,739 shares of the exchange traded fund’s stock after selling 1,387 shares during the quarter. Institute for Wealth Management LLC.’s holdings in SPDR S&P Regional Banking ETF were worth $720,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Money Concepts Capital Corp purchased a new position in SPDR S&P Regional Banking ETF in the fourth quarter valued at about $29,000. Brown Brothers Harriman & Co. increased its stake in shares of SPDR S&P Regional Banking ETF by 351.1% during the 1st quarter. Brown Brothers Harriman & Co. now owns 600 shares of the exchange traded fund’s stock worth $41,000 after purchasing an additional 467 shares in the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC purchased a new position in shares of SPDR S&P Regional Banking ETF during the 1st quarter worth approximately $48,000. Simplex Trading LLC purchased a new position in shares of SPDR S&P Regional Banking ETF during the 3rd quarter worth approximately $33,000. Finally, PCA Investment Advisory Services Inc. purchased a new position in shares of SPDR S&P Regional Banking ETF during the 2nd quarter worth approximately $41,000.

SPDR S&P Regional Banking ETF Price Performance

Shares of KRE opened at $47.32 on Friday. The firm has a 50 day simple moving average of $48.21 and a 200-day simple moving average of $47.21. SPDR S&P Regional Banking ETF has a 1-year low of $34.52 and a 1-year high of $54.47. The stock has a market cap of $2.40 billion, a price-to-earnings ratio of 8.27 and a beta of 1.56.

About SPDR S&P Regional Banking ETF

SPDR KBW Regional Banking ETF, formerly SPDR S&P Regional Banking ETF, seeks to closely match the returns and characteristics of the S&P Regional Banks Select Industry Index. Its approach is designed to provide portfolios with low portfolio turnover, tracking, and lower costs. As of October 27, 2011, the Company’s holding included Privatebancorp Inc, Webster Finl Corp Conn, Umpqua Hldgs Corp, Firstmerit Corp, East West Bancorp Inc, Fifth Third Bancorp, Fnb Corp Pa, Susquehanna Bancshares Inc and Keycorp New and First Rep Bk San Fran Cali.