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KBW Announces Changes to KBW Bank Index (BKX)
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Published in Business and Finance on Monday, November 17th 2008 at 14:48 GMT by Market Wire🞛 This publication is a summary or evaluation of another publication
NEW YORK--([ BUSINESS WIRE ])--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), today announced upcoming changes to the KBW Bank Index (Index Symbol: BKXSM, ETF Symbol: KBESM).
Effective prior to the opening of business on Thursday, November 20, 2008, Wells Fargo & Company (NYSE: WFC) will undergo a share increase in the BKX index due to successful completion of its secondary stock offering of 468.5 million shares at $27 per share on Monday, November 10, 2008. This offering included 61 million shares from underwriters exercising an overallotment option.
The KBW family of indices and exchange traded funds include: KBW Bank Index (Index Symbol: BKXSM, ETF Symbol KBESM); KBW Capital Markets Index (Index Symbol: KSXSM, ETF Symbol KCESM); KBW Insurance Index (Index Symbol: KIXSM, ETF Symbol KIESM); KBW Regional Banking Index (Index Symbol: KRXSM, ETF Symbol: KRESM) and KBW Mortgage Finance Index (Index Symbol: MFXSM).
About KBW
KBW, Inc. is the parent of Keefe, Bruyette & Woods, Inc., Keefe, Bruyette & Woods Limited and KBW Asset Management. Keefe, Bruyette & Woods, Inc. is a full service investment bank specializing in the financial services industry. Founded in 1962, it is widely recognized as a leading authority in the banking, insurance, brokerage, asset management, mortgage banking 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 for financial services companies.