The results of financial stress tests of the nation’s largest banks were recently released and surprised expectations by besting capital requirements. The majority of the financial and banking institutions were then allowed to announce dividend increases and share buyback plans that led to a strong jump higher in this sector.
The following ETFs were some of the strongest performers after the announcements were made:
SPDR KBW Bank (ETF) (NYSE: KBE)
Banking stocks responded with strength on Thursday and KBE was one of the sturdiest of the group. This exchange-traded fund tracks 64 companies engaged in traditional banking and lending services through an equal-weighted structure.
KBE has approached its highest levels of the last 12-months after months of rocky price action that has ...
/www.benzinga.com/etfs/sector-etfs/15/03/5322275/3-financial-etfs-exploding-higher-on-stress-test-news alt=3 Financial ETFs Exploding Higher On Stress Test News>Full story available on Benzinga.com
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