KRE captured $243.4 million in new investments last month while the SPDR S&P Bank ETF (NYSEArca: KBE) gained $89.5 million in fresh capital. KBE is not a dedicated regional bank ETF, but the fund allocates 77.5% of its weight to regional banks. Investors have continued flocking to KRE this month as the fund added $159 million in new assets from June 1 to June 9. [Investors Flocked to These Sector ETFs in May]
As for KRE’s technical condition, the ETF is breaking out of a five-year channel, which is significant.
KRE Chart
Chart Courtesy: Kimble Charting Solutions