NEW YORK, Dec. 14, 2018 (GLOBE NEWSWIRE) -- Keefe, Bruyette & Woods, Inc., a full‐service, boutique investment bank and broker‐dealer that specializes in the financial services sector, and a wholly owned subsidiary of Stifel Financial Corp. SF, announces the upcoming index rebalancing for the fourth quarter of 2018.
This quarter there are constituent changes within six of our indexes, including the KBW Nasdaq Capital Markets Index KSX, the KBW Nasdaq Financial Sector Dividend Yield Index KDX, the KBW Nasdaq Financial Technology Index KFTX, the KBW Nasdaq Global Bank Index GBKX, the KBW Nasdaq Premium Yield Equity REIT Index KYX and the KBW Nasdaq Property & Casualty Insurance Index KPX.
There are a number of changes to the two modified-dividend-yield-weighted indexes – KDX and the KYX – to adjust annually for relevant dividend yields and ensure the integrity of these indexes. Both KDX and KYX are specifically constructed to include those eligible companies with competitive dividend yields.
These changes will be effective prior to the opening of business on Monday, December 24, 2018.
As part of this rebalancing, below are the component level changes across various indices:
KBW Nasdaq Capital Markets Index KSX
Add (2): KKR & Co., Inc. KKR
Jefferies Financial Group Inc. JEF
Delete (1): Piper Jaffray Companies PJC
PJC failed to meet the minimum monthly average daily trading volume requirement for continued inclusion.
KBW Nasdaq Financial Sector Dividend Yield Index KDXKBWD
Add (15): Aircastle Limited AYR
ARMOUR Residential REIT, Inc. ARR
FS Investment Corporation FSIC
Hanmi Financial Corporation HAFC
Invesco Mortgage Capital Inc. IVR
Legg Mason, Inc. LM
MFA Financial, Inc. MFA
Moelis & Company MC
Monroe Capital Corporation MRCC
New York Mortgage Trust, Inc. NYMT
Oxford Square Capital Corp. OXSQ
Principal Financial Group, Inc. PFG
Two Harbors Investment Corp. TWO
Umpqua Holdings Corporation UMPQ
Waddell & Reed Financial, Inc. WDR
Delete (12): Apollo Commercial Real Estate Finance, Inc. ARI
HCI Group, Inc. HCI
Maiden Holdings, Ltd. MHLD
Medley Capital Corporation MCC
Newtek Business Services Corp. NEWT
Northwest Bancshares, Inc. NWBI
Old Republic International Corporation ORI
PennyMac Mortgage Investment Trust PMT
Prospect Capital Corporation PSEC
Stellus Capital Investment Corp. SCM
United Bankshares, Inc. UBSI
Virtu Financial, Inc. VIRT
MHLD and MCC failed to meet the minimum price requirement for continued inclusion.
KBW Nasdaq Financial Technology Index KFTXFTEK
Add (1): CoStar Group, Inc. CSGP
Delete (1): USA Technologies, Inc. USAT
USAT failed to meet the minimum market capitalization requirement for continued inclusion.
KBW Nasdaq Global Bank Index GBKX
Delete (2): Nordea Bank NDA
The Royal Bank of Scotland Group PLC RBS
KBW Nasdaq Premium Yield Equity REIT Index KYXKBWY
Add (10): Bluerock Residential Growth REIT, Inc. BRG
Brixmor Property Group, Inc. BRX
City Office REIT, Inc. CIO
Gaming and Leisure Properties, Inc. GLPI
Omega Healthcare Investors, Inc. OHI
Preferred Apartment Communities, Inc. APTS
RLJ Lodging Trust RLJ
Summit Hotel Properties, Inc. INN
Uniti Group Inc. UNIT
VEREIT, Inc. VER
Delete (9): Ashford Hospitality Trust, Inc. AHT
Chesapeake Lodging Trust CHSP
Farmland Partners Inc. FPI
Franklin Street Properties Corp. FSP
Gladstone Commercial Corporation GOOD
Medical Properties Trust, Inc. MPW
RPT Realty RPT
SITE Centers Corp. SITC
Tanger Factory Outlet Centers, Inc. SKT
AHT failed to meet the minimum price requirement for continued inclusion.
GOOD failed to meet the monthly average daily trading volume requirement for continued inclusion.
KBW Nasdaq Financial Property & Casualty Insurance Index KPXKBWP
Add (1): Universal Insurance Holdings, Inc. UVP
Delete (1): Argo Group International Holdings, Ltd. ARGO
ARGO failed to meet the monthly average daily trading volume requirement for continued inclusion.
Several of the KBW Nasdaq indices have tradable exchange‐traded funds licensed: KBW Nasdaq Bank Index BKXKBWB; KBW Nasdaq Capital Markets Index KSX; KBW Nasdaq Insurance Index KIX; KBW Nasdaq Regional Banking Index KRXKBWR; KBW Nasdaq Financial Sector Dividend Yield Index KDXKBWD; KBW Nasdaq Premium Yield Equity REIT Index KYXKBWY; KBW Nasdaq Property and Casualty Insurance Index KPXKBWP; KBW Nasdaq Global Bank Index GBKX; KBW Nasdaq Financial Technology Index KFTXFTEK.
Not all of the listed securities may be suitable for retail investors; in addition, not all of the listed securities may be available to U.S. investors. European investors interested in FTEK LN can contact Invesco at https://etf.invesco.com/gb/private/en/product/invesco-kbw-nasdaq-fintech-ucits-etf-acc/trading-information. U.S. investors cannot buy or hold FTEK LN. An investor cannot invest directly in an index.
About KBW
KBW (Keefe, Bruyette & Woods, Inc., operating in the U.S., and Stifel Nicolaus Europe Limited, also trading as Keefe, Bruyette & Woods Europe, operating in Europe) is a Stifel company. Over the years, KBW has established itself as a leading independent authority in the banking, insurance, brokerage, asset management, mortgage banking and specialty finance sectors. Founded in 1962, the firm maintains industry‐leading positions in the areas of research, corporate finance, mergers and acquisitions as well as sales and trading in equities securities of financial services companies.
Media Contact
Neil Shapiro, (212) 271-3447
shapiron@stifel.com
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
