|Bid||29.33 x 1200|
|Ask||42.50 x 2200|
|Day's Range||0.00 - 0.00|
|52 Week Range|
|PE Ratio (TTM)||N/A|
|YTD Daily Total Return||30.23%|
|Beta (3Y Monthly)||4.44|
|Expense Ratio (net)||1.00%|
September has been kind to the U.S. stock market thanks to another Fed rate cut and positive trade developments that have led to renewed trade of riskier assets.
As measured by the S&P Regional Banks Select Industry Index (SPSIRBKT), regional banks were one of last year's most disappointing groups, but are shedding some of those laggard ways this year. The S&P Regional Banks Select Industry Index is up more than 13 percent year-to-date. A reversal of fortune for regional banks in 2019 is lifting ETFs tracking the group, including the Direxion Daily Regional Banks Bull 3X Shares (NYSE: DPST).
The Zacks Analyst Blog Highlights: Direxion Daily S&P, Direxion Daily Regional Banks, Direxion Daily Aerospace, Direxion Daily Industrials and Direxion Daily Small Cap
Last year, the Federal Reserve raised interest rates four times, but the S&P Regional Banks Select Industry Index (SPSIRBKT), a widely followed gauge of regional bank stocks, plunged 19 percent. In 2018, regional banks ran counter to a historically positive correlation to rising interest rates and Treasury yields as some investors fretted that the positive impact from rising rates was dwindling for bank stocks. “US banks should begin to see less and less benefit to earnings from rising short-term interest rates over the coming quarters,” Fitch Ratings says.
We have highlighted nine ETFs that have piled up exceptional returns to start 2019 and will continue to be investors' darlings provided the sentiments remain the same.
The SPDR S&P Regional Banking ETF (KRE) , the largest regional bank exchange traded fund, just cannot seem to get out of its own way and some investors are not sticking around to see what comes next. Rising interest rates historically benefit regional banks, but that has not been the case this year. Higher interest rates would help widen the difference between what banks charge on loans and pay on deposits, which would boost earnings for the financial sector.
Leveraged exchange traded funds (ETFs) have some nifty tickers . In the case of one leveraged fund, aggressive traders may want to consider doing the opposite of what the ticker implies. With investors ...
Even with the benefit of three interest rate increases by the Federal Reserve, regional bank stocks and exchange traded funds are struggling this year. The iShares U.S. Regional Banks ETF (NYSEArca: IAT), ...