KBW Said Short Interest Rose In Insurance ETF, But Fell In Bank ETFs (KIE, KBE, KRE, KCE)
Keefe, Bruyette and Woods commented today on short interest for the two-weeks of August in thier ETFs: KBW Insurance ETF (AMEX: KIE), KBW Bank ETF (AMEX: KBE), KBW Regional Banking ETF (AMEX: KRE) and KBW Capital Markets ETF (AMEX: KCE).
The firm noted that short interested increased 5% for Insurance (KIE), while short interest shares decreased by 32% in Large-Cap Banks (KBE), 22% in Regional Banking (KRE), and 10% for Capital Markets (KCE).
The firm noted that volatility within the financials sector has led to a shift in short positions across sub-sectors within financials over the past two-week period. They noted the Financial Select Sector SPDR ETF (AMEX: XLF) saw a 1.9% decrease in short shares whereas the broad index the S&P 500 Deposit Receipts (AMEX: SPY) saw a 14.1% decline in short interest shares.
Keefe, Bruyette and Woods said, "In our opinion, value buyers will continue to look for opportunities to enter at attractive levels within the sub- sectors of financials either for attractive yields in ETF versus the underlying index or a longer-term (2-3 years) bullish outlook on sub-sectors of financials."
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