|Bid||0.00 x 1100|
|Ask||0.00 x 800|
|Day's Range||18.85 - 19.18|
|52 Week Range||17.81 - 38.57|
|PE Ratio (TTM)||N/A|
|YTD Daily Total Return||3.03%|
|Beta (5Y Monthly)||-4.38|
|Expense Ratio (net)||1.07%|
Wall Street has been witnessing a tough ride this month due to U.S.-China trade conflicts, weak global economic data, low inflation and political unrest in Hong Kong.
Given the massive outflow and the bearish outlook, the appeal for financial ETFs, especially banks, has dulled. As a result, investors who are bearish on the sector right now may want to consider a near-term short.
Slack net interest margin guidance could be a sign that banks are baking in an imminent interest rate cut by the Federal Reserve. Regional banks are particularly sensitive to net interest margin weakness, perhaps explaining why the SPDR S&P Regional Banking ETF (NYSE: KRE), the largest exchange traded fund tracking the industry, is lower by 1% this week. Additionally, some traders see a technical case for shorting the bellwether regional bank ETF.
We have highlighted five leveraged inverse ETFs that gained more than 40% in May though these involve a great deal of risk when compared to traditional products.
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).
Bouts of volatility and uncertainty have raised the appeal of leveraged and inverse leveraged ETFs in March for huge gains in a short span.
The financial services sector and the related exchange traded funds (ETFs) are once again struggling. Last week, the Financial Select Sector Index fell almost 5 percent as the sector notched its worst ...
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.