KBW Announces Index Rebalancing for Fourth-Quarter 2020

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NEW YORK, Dec. 11, 2020 (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 2020.

This quarter, there are constituent changes within three of our indexes: the KBW Nasdaq Financial Sector Dividend Yield Index KDXKBWD, the KBW Nasdaq Insurance Index KIX, and the KBW Nasdaq Premium Yield Equity REIT Index KYXKBWY.

There are also a number of changes to the two modified-dividend-yield-weighted indexes, KDX and 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 21, 2020.

As part of this rebalancing, below are the component level changes across various indices:  

KBW Nasdaq Financial Sector Dividend Yield Index KDXKBWD  
   
Add (14):Arbor Realty Trust, Inc. ABR 
 Ares Capital Corporation ARCC 
 Ares Commercial Real Estate Corporation ACRE 
 Bain Capital Specialty Finance, Inc. BCSF 
 Capstead Mortgage Corporation CMO 
 Chimera Investment Corporation CIM 
 Flushing Financial Corporation FFIC 
 Franklin Resources, Inc. BEN 
 Goldman Sachs BDC, Inc. GSBD 
 Hercules Capital, Inc. HTGC 
 Heritage Commerce Corp HTBK 
 Northwest Bancshares, Inc. NWBI 
 Provident Financial Services, Inc. PFS 
 Starwood Property Trust, Inc. STWD 
   
Delete (14): AGNC Investment Corp. AGNC 
 Ares Management Corporation ARES 
 The Bank of N.T. Butterfield & Son Ltd. NTB 
 BGC Partners, Inc. BGCP 
 Dynex Capital, Inc. DX 
 Hanmi Financial Corporation HAFC 
 Invesco Ltd. IVZ 
 Invesco Mortgage Capital Inc. IVR 
 New Residential Investment Corp. NRZ 
 Oxford Square Capital Corp. OXSQ 
 PacWest Bancorp PACW 
 PennantPark Investment Corporation PNNT 
 People's United Financial, Inc. PBCT 
 Two Harbors Investment Corp. TWO 
   
   
KBW Nasdaq Insurance Index KIX  
   
Add (1):Equitable Holdings, Inc. EQH 
   
Delete (1): Willis Towers Watson Public Limited Company WLTW 
   
   
KBW Nasdaq Premium Yield Equity REIT Index KYXKBWY  
   
Add (10):CareTrust REIT, Inc. CTRE 
 CatchMark Timber Trust, Inc. CTT 
 Essential Properties Realty Trust, Inc. EPRT 
 Lexington Realty Trust LXP 
 Monmouth Real Estate Investment Corporation MNR 
 Physicians Realty Trust DOC 
 Plymouth Industrial REIT, Inc. PLYM 
 Spirit Realty Capital, Inc. SRC 
 UMH Properties, Inc. UMH 
 Washington Real Estate Investment Trust WRE 
   
Delete (10): Diversified Healthcare Trust DHC 
 Lamar Advertising Company LAMR 
 The Macerich Company MAC 
 Mack-Cali Realty Corporation CLI 
 New Senior Investment Group Inc. SNR 
 RLJ Lodging Trust RLJ 
 Service Properties Trust SVC 
 STORE Capital Corporation STOR 
 Vornado Realty Trust VNO 
 Whitestone REIT WSR 

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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