KBE, the State Street SPDR S&P Bank ETF, remained below its early September price even after a 0.78% weekly gain ended five consecutive losses on Oct. 16.
Regional banks represented 78.34% of KBE’s allocation as of Oct. 16. Diversified banks accounted for 8.22%, and the fund had 107 holdings. Its benchmark also covers businesses in asset management, custody banking, diversified financial services and mortgage finance.
KBE’s Oct. 16 closing price was $63.62, $0.49 higher than the $63.13 recorded on Oct. 9. Both prices are 4 p.m. ET closing figures.
KBE had closed at $69.34 on Sept. 4. It then lost $6.21, or 8.96%, over five consecutive weeks through Oct. 9. The Oct. 16 price was still $5.72 short of the Sept. 4 close.
