NEW YORK, Dec. 13, 2019 (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 2019.
This quarter, there are constituent changes within four of our indexes, including the KBW Nasdaq Financial Sector Dividend Yield Index KDX, the KBW Nasdaq Financial Technology Index KFTX, the KBW Nasdaq Global Bank Index GBKX, and the KBW Nasdaq Premium Yield Equity REIT Index KYX.
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 23, 2019.
As part of this rebalancing, below are the component level changes across various indices:
| KBW Nasdaq Financial Sector Dividend Yield Index KDXKBWD | ||
| Add (12): | Apollo Commercial Real Estate Finance, Inc. ARI | |
| Apollo Global Management Inc. APO | ||
| Apollo Investment Corporation AINV | ||
| Bank of N.T. Butterfield & Son Limited NTB | ||
| BlackRock TCP Capital Corporation TCPC | ||
| New Mountain Finance Corporation NMFC | ||
| Newtek Business Services Corporation NEWT | ||
| PennantPark Investment Corporation PNNT | ||
| Prospect Capital Corporation PSEC | ||
| Prudential Financial, Inc. PRU | ||
| TCG BDC, Inc. CGBD | ||
| Virtu Financial, Inc. VIRT | ||
| Delete (11): | AG Mortgage Investment Trust, Inc. MITT | |
| Aircastle Limited AYR | ||
| Arlington Asset Investment Corporation AI | ||
| BlackRock Capital Investment Corporation BKCC | ||
| Chimera Investment Corporation CIM | ||
| Federated Investors, Inc. FII | ||
| Legg Mason, Inc. LM | ||
| Monroe Capital Corporation MRCC | ||
| People's United Financial, Inc. PBCT | ||
| THL Credit, Inc. TCRD | ||
| Valley National Bancorp VLY | ||
| KBW Nasdaq Financial Technology Index KFTXFTEK | ||
| Add (2): | GreenSky, Inc. GSKY | |
| Meta Financial Group, Inc. CASH | ||
| Delete (2): | LendingTree, Inc. TREE | |
| On Deck Capital, Inc. ONDK | ||
| ONDK failed to meet the minimum market capitalization requirement for continued inclusion. | ||
| TREE failed to meet the average daily trading volume (ADTV) requirement for continued inclusion. | ||
| KBW Nasdaq Global Bank Index GBKX | ||
| Add (1): | Toronto-Dominion Bank TD | |
| KBW Nasdaq Premium Yield Equity REIT Index KYXKBWY | ||
| Add (10): | American Finance Trust, Inc. AFIN | |
| Brandywine Realty Trust BDN | ||
| Brookfield Property REIT Inc. BPR | ||
| CorePoint Lodging, Inc. CPLG | ||
| Gladstone Commercial Corporation GOOD | ||
| Global Medical REIT Inc. GMRE | ||
| Industrial Logistics Properties Trust ILPT | ||
| Macerich Company MAC | ||
| Tanger Factory Outlet Centers, Inc. SKT | ||
| Taubman Centers, Inc. TCO | ||
| Delete (9): | Braemar Hotels & Resorts, Inc. BHR | |
| Brixmor Property Group, Inc. BRX | ||
| Gaming and Leisure Properties, Inc. GLPI | ||
| Kite Realty Group Trust KRG | ||
| Lexington Realty Trust LXP | ||
| Omega Healthcare Investors, Inc. OHI | ||
| Summit Hotel Properties, Inc. INN | ||
| VEREIT, Inc. VER | ||
| Washington Prime Group Inc. WPG | ||
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
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