Short Interest in PowerShares KBW Bank Portfolio (KBWB) Drops By 40.4%

PowerShares KBW Bank Portfolio (NASDAQ:KBWB) was the target of a significant decline in short interest in January. As of January 31st, there was short interest totalling 1,047,321 shares, a decline of 40.4% from the January 12th total of 1,758,587 shares. Based on an average daily volume of 471,289 shares, the days-to-cover ratio is currently 2.2 days.

Shares of PowerShares KBW Bank Portfolio (NASDAQ KBWB) traded up $0.35 during midday trading on Wednesday, hitting $56.93. 1,676,700 shares of the company were exchanged, compared to its average volume of 638,799. PowerShares KBW Bank Portfolio has a fifty-two week low of $45.34 and a fifty-two week high of $60.38.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. raised its stake in shares of PowerShares KBW Bank Portfolio by 1,106.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,087,000 shares of the company’s stock valued at $59,807,000 after purchasing an additional 996,918 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of PowerShares KBW Bank Portfolio by 7,289.2% during the third quarter. JPMorgan Chase & Co. now owns 450,000 shares of the company’s stock valued at $22,896,000 after purchasing an additional 443,910 shares in the last quarter. Advisors Preferred LLC bought a new stake in shares of PowerShares KBW Bank Portfolio during the fourth quarter valued at about $17,033,000. Nottingham Advisors Inc. raised its stake in shares of PowerShares KBW Bank Portfolio by 3.1% during the fourth quarter. Nottingham Advisors Inc. now owns 282,635 shares of the company’s stock valued at $15,551,000 after purchasing an additional 8,419 shares in the last quarter. Finally, SOL Capital Management CO raised its stake in shares of PowerShares KBW Bank Portfolio by 0.5% during the third quarter. SOL Capital Management CO now owns 278,432 shares of the company’s stock valued at $14,256,000 after purchasing an additional 1,250 shares in the last quarter.

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