KBW Announces Index Rebalancing for Fourth-Quarter 2019

Saturday, 14. December 2019 03:00

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. (NYSE: 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 (Index Ticker: KDX), the KBW Nasdaq Financial Technology Index (Index Ticker: KFTX), the KBW Nasdaq Global Bank Index (Index Ticker: GBKX), and the KBW Nasdaq Premium Yield Equity REIT Index (Index Ticker: 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 (Index Ticker: KDX; ETF Ticker: KBWD)
   
Add (12): Apollo Commercial Real Estate Finance, Inc. (NYSE: ARI)
  Apollo Global Management Inc. (NYSE: APO)
  Apollo Investment Corporation (NASDAQ: AINV)
  Bank of N.T. Butterfield & Son Limited (NYSE: NTB)
  BlackRock TCP Capital Corporation (NASDAQ: TCPC)
  New Mountain Finance Corporation (NYSE: NMFC)
  Newtek Business Services Corporation (NASDAQ: NEWT)
  PennantPark Investment Corporation (NASDAQ: PNNT)
  Prospect Capital Corporation (NASDAQ: PSEC)
  Prudential Financial, Inc. (NYSE: PRU)
  TCG BDC, Inc. (NASDAQ: CGBD)
  Virtu Financial, Inc. (NASDAQ: VIRT)
   
Delete (11): AG Mortgage Investment Trust, Inc. (NYSE: MITT)
  Aircastle Limited (NYSE: AYR)
  Arlington Asset Investment Corporation (NYSE: AI)
  BlackRock Capital Investment Corporation (NASDAQ: BKCC)
  Chimera Investment Corporation (NYSE: CIM)
  Federated Investors, Inc. (NYSE: FII)
  Legg Mason, Inc. (NYSE: LM)
  Monroe Capital Corporation (NASDAQ: MRCC)
  People’s United Financial, Inc. (NASDAQ: PBCT)
  THL Credit, Inc. (NASDAQ: TCRD)
  Valley National Bancorp (NASDAQ: VLY)
   
KBW Nasdaq Financial Technology Index (Index Ticker: KFTX, ETF Ticker: FTEK.LN)
   
Add (2): GreenSky, Inc. (NASDAQ: GSKY)
  Meta Financial Group, Inc. (NASDAQ: CASH)
   
Delete (2): LendingTree, Inc. (NASDAQ: TREE)
  On Deck Capital, Inc. (NYSE: 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 (Index Ticker: GBKX)
   
Add (1): Toronto-Dominion Bank (TSX: TD)
   
KBW Nasdaq Premium Yield Equity REIT Index (Index Ticker: KYX; ETF Ticker: KBWY)
   
Add (10): American Finance Trust, Inc. (NASDAQ: AFIN)
  Brandywine Realty Trust (NYSE: BDN)
  Brookfield Property REIT Inc. (NASDAQ: BPR)
  CorePoint Lodging, Inc. (NYSE: CPLG)
  Gladstone Commercial Corporation (NASDAQ: GOOD)
  Global Medical REIT Inc. (NYSE: GMRE)
  Industrial Logistics Properties Trust (NASDAQ: ILPT)
  Macerich Company (NYSE: MAC)
  Tanger Factory Outlet Centers, Inc. (NYSE: SKT)
  Taubman Centers, Inc. (NYSE: TCO)
   
Delete (9): Braemar Hotels & Resorts, Inc. (NYSE: BHR)
  Brixmor Property Group, Inc. (NYSE: BRX)
  Gaming and Leisure Properties, Inc. (NASDAQ: GLPI)
  Kite Realty Group Trust (NYSE: KRG)
  Lexington Realty Trust (NYSE: LXP)
  Omega Healthcare Investors, Inc. (NYSE: OHI)
  Summit Hotel Properties, Inc. (NYSE: INN)
  VEREIT, Inc. (NYSE: VER)
  Washington Prime Group Inc. (NYSE: WPG)
   

Several of the KBW Nasdaq indices have tradable exchange‐traded funds licensed: KBW Nasdaq Bank Index (Index Ticker: BKXSM, ETF Ticker: KBWBSM); KBW Nasdaq Capital Markets Index (Index Ticker: KSXSM); KBW Nasdaq Insurance Index (Index Ticker: KIXSM); KBW Nasdaq Regional Banking Index (Index Ticker: KRXSM, ETF Ticker: KBWRSM); KBW Nasdaq Financial Sector Dividend Yield Index (Index Ticker: KDXSM, ETF Ticker: KBWDSM); KBW Nasdaq Premium Yield Equity REIT Index (Index Ticker: KYXSM, ETF Ticker: KBWYSM); KBW Nasdaq Property and Casualty Insurance Index (Index Ticker: KPXSM, ETF Ticker: KBWPSM); KBW Nasdaq Global Bank Index (Index Ticker: GBKXSM); KBW Nasdaq Financial Technology Index (Index Ticker: KFTXSM, ETF Ticker: FTEK.LNSM).

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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