Envestnet Asset Management Inc. Lowers Holdings in SPDR S&P Regional Banking ETF (NYSEARCA:KRE)

Envestnet Asset Management Inc. decreased its stake in SPDR S&P Regional Banking ETF (NYSEARCA:KRE) by 8.7% during the second quarter, Holdings Channel reports. The institutional investor owned 90,554 shares of the exchange traded fund’s stock after selling 8,655 shares during the quarter. Envestnet Asset Management Inc.’s holdings in SPDR S&P Regional Banking ETF were worth $4,446,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the stock. Transcendent Capital Group LLC purchased a new position in SPDR S&P Regional Banking ETF during the fourth quarter worth approximately $26,000. Clear Point Advisors Inc. purchased a new position in SPDR S&P Regional Banking ETF during the first quarter worth approximately $44,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in SPDR S&P Regional Banking ETF during the second quarter worth approximately $50,000. Family Firm Inc. purchased a new position in SPDR S&P Regional Banking ETF during the second quarter worth approximately $60,000. Finally, Woodmont Investment Counsel LLC purchased a new position in SPDR S&P Regional Banking ETF during the first quarter worth approximately $63,000.

SPDR S&P Regional Banking ETF Trading Down 3.3 %

Shares of KRE stock opened at $54.71 on Wednesday. The company has a market capitalization of $2.92 billion, a P/E ratio of 8.36 and a beta of 1.56. The business’s 50 day moving average is $55.80 and its two-hundred day moving average is $51.35. SPDR S&P Regional Banking ETF has a 12-month low of $37.66 and a 12-month high of $59.59.

SPDR S&P Regional Banking ETF Profile

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.