Keefe, Bruyette & Woods, Inc., a full-service investment bank that specializes in the financial services sector, and a wholly owned subsidiary of KBW, Inc. (NYSE: KBW), announces upcoming changes to the KBW Capital Markets Index (KSX SM) and KBW Regional Banking Index (KRX SM). Effective prior to the opening of business on Monday, May 2, 2011, Jefferies Group, Inc. (NYSE: JEF), a member of the KSX, and Community Bank System, Inc. (NYSE: CBU) and Hancock Holding Company (NASDAQ: HBHC), both members of the KRX, will have share increases within their respective indices. The KBW indices have eleven tradable exchange-traded funds licensed which include: KBW Bank Index (Index Symbol: BKX SM, ETF Symbol: KBE SM); KBW Capital Markets Index (Index Symbol: KSX SM, ETF Symbol: KCE SM); KBW Insurance Index (Index Symbol: KIX SM, ETF Symbol: KIE SM); KBW Mortgage Finance Index (Index Symbol: MFX SM, ETF Symbol: KME SM); KBW Regional Banking Index (Index Symbol: KRX SM, ETF Symbol: KRE SM, KRS SM, KRU SM); KBW Financial Sector Dividend Yield Index (Index Symbol: KDX SM, ETF Symbol: KBWD SM); KBW Premium Yield Equity REIT Index (Index Symbol: KYX SM, ETF Symbol: KBWY SM); KBW Property and Casualty Insurance Index (Index Symbol: KPX SM, ETF Symbol: KBWP SM); and KBW Global (Ex. U.S.) Financial Sector Index (Index Symbol: KGX SM, ETF Symbol: KBWX SM). About KBW KBW, Inc. operates in the U.S., Europe and Asia through its broker dealer subsidiaries, Keefe, Bruyette & Woods, Inc., Keefe, Bruyette & Woods Limited and Keefe, Bruyette & Woods Asia Limited. It also offers asset management services through KBW Asset Management, Inc. Founded in 1962, the firm is widely recognized as a leading authority in the banking, insurance, brokerage, asset management, mortgage banking, real estate and specialty finance sectors. The firm has established industry-leading positions in the areas of research, corporate finance, mergers and acquisitions as well as sales and trading in equities and debt securities of financial services companies.
Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the SPDR S&P Bank ETF where we have detected an approximate $60.2 million dollar outflow -- that's a 2.4% decrease week over week (from 78,152,118 to 76,302,118). Among the largest underlying components of KBE, in trading today City National Corp.