Bank of America is set to benefit as the Federal Reserve continues to raise interest rates. Here are three ETFs that may benefit if investors like its fourth-quarter results.
With Deutsche Bank and Wells Fargo making news for all the wrong reasons, are bank ETFs still a solid bet?
In trading on Friday, shares of the PowerShares KBW Bank Portfolio ETF crossed above their 200 day moving average of $36.37, changing hands as high as $36.94 per share. PowerShares KBW Bank Portfolio shares are currently trading up about 2.6% on the day.
In trading on Wednesday, shares of the PowerShares KBW Bank Portfolio ETF entered into oversold territory, changing hands as low as $34.16 per share. We define oversold territory using the Relative Strength Index, or RSI, which is a technical analysis indicator used to measure momentum on a scale of zero to 100.