State Street SPDR S&P Bank ETF Ends Five-Week Slide With 0.78% Gain

The State Street SPDR S&P Bank ETF (KBE) rose 0.78% in the week ended Oct. 16, halting five straight weekly declines in a fund heavily weighted toward regional banks.

KBE closed at $63.62 on Oct. 16, up $0.49 from its $63.13 close on Oct. 9. Both figures are closing prices from 4 p.m. ET (20:00 UTC) on their respective dates.

The gain interrupted a decline that began after the fund closed at $69.34 on Sept. 4. By Oct. 9, KBE had lost $6.21, or 8.96%, across five consecutive weekly declines. Despite the latest increase, its Oct. 16 close remained $5.72 below the Sept. 4 level.

The fund had 107 holdings as of Oct. 16. Regional banks accounted for 78.34% of its allocation, and diversified banks made up 8.22%. Its benchmark also includes asset management and custody banks, diversified financial services, and commercial and residential mortgage finance businesses.