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 2016.
This quarter there are a sizable number of changes to the two modified-dividend-yield-weighted indexes – the KBW Nasdaq Financial Sector Dividend Yield Index (Index Ticker: KDX) and the KBW Nasdaq Premium Yield Equity REIT Index (Index Ticker: 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 priorto the opening of business on Monday, December 19, 2016.
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 (13): | Annaly Capital Management, Inc. (NYSE:NLY) | |
BlackRock Capital Investment Corporation (NASDAQ:BKCC) | ||
CYS Investments, Inc. (NYSE:CYS) | ||
First American Financial Corporation (NYSE:FAF) | ||
Gladstone Capital Corporation (NASDAQ:GLAD) | ||
HCI Group, Inc. (NYSE:HCI) | ||
Invesco Ltd. (NYSE:IVZ) | ||
Lazard Ltd (NYSE:LAZ) | ||
New York Community Bancorp, Inc. (NYSE:NYCB) | ||
Orchid Island Capital, Inc. (NYSE:ORC) | ||
PennyMac Mortgage Investment Trust (NYSE:PMT) | ||
Prospect Capital Corporation (NASDAQ:PSEC) | ||
Triton International Limited (NYSE:TRTN) | ||
Deletes (10): | Altisource Residential Corp. (NYSE:RESI) | |
Ares Capital Corp. (NASDAQ:ARCC) | ||
Hercules Capital Inc. (NYSE:HTGC) | ||
NorthStar Asset Management Group Inc. (NYSE:NSAM) | ||
Northwest Bancshares Inc. (NASDAQ:NWBI) | ||
Textainer Group Holdings Ltd. (NYSE:TGH) | ||
Triangle Capital Corp. (NYSE:TCAP) | ||
TrustCo Bank Corp NY (NASDAQ:TRST) | ||
Trustmark Corp. (NASDAQ:TRMK) | ||
United Financial Bancorp Inc. (NASDAQ:UBNK) | ||
KBW Nasdaq Financial Technology Index (Index Ticker: KFTX) | ||
Add (2): | WisdomTree Investments, Inc. (NASDAQ:WETF) | |
LendingTree, Inc. (NASDAQ:TREE) | ||
Delete: | Black Knight Financial Services, Inc. (NYSE:BKFS) | |
BKFS failed to meet the minimum monthly average daily trading volume requirement. | ||
KBW Nasdaq Insurance Index (Index Ticker: KIX) | ||
Add: | Torchmark Corp. (NYSE:TMK) | |
Delete: | Genworth Financial Inc. (NYSE:GNW) | |
KBW Nasdaq Mortgage Finance Index (Index Ticker:MFX) | ||
Effective after the close of business on Friday, December
16, 2016, KBW and Nasdaq will cease | ||
KBW Nasdaq Premium Yield Equity REIT Index (Index Ticker: KYX; ETF Ticker: KBWY) | ||
Add (8): | Apple Hospitality REIT, Inc. (NYSE:APLE) | |
Chatham Lodging Trust (NYSE:CLDT) | ||
Chesapeake Lodging Trust (NYSE:CHSP) | ||
Global Medical REIT Inc. (NYSE:GMRE) | ||
LaSalle Hotel Properties (NYSE:LHO) | ||
MGM Growth Properties LLC (NYSE:MGP) | ||
RLJ Lodging Trust (NYSE:RLJ) | ||
Xenia Hotels & Resorts, Inc. (NYSE:XHR) | ||
Delete (7): | Armada Hoffler Properties Inc. (NYSE:AHH) | |
Community Healthcare Trust Inc. (NYSE:CHCT) | ||
EPR Properties (NYSE:EPR) | ||
Gaming and Leisure Properties Inc. (NASDAQ:GLPI) | ||
Monmouth Real Estate Investment Corp. (NYSE:MNR) | ||
Spirit Realty Capital Inc. (NYSE:SRC) | ||
VEREIT Inc. (NYSE:VER) | ||
KBW Nasdaq Property & Casualty Insurance Index (Index Ticker: KPX; ETF Ticker: KBWP) | ||
Add: | Maiden Holdings Ltd. (NASDAQ:MHLD) | |
Delete: | Endurance Specialty Holdings (NYSE:ENH) | |
KBW Nasdaq Regional Banking Index (Index Ticker: KRX; ETF Ticker: KBWR) | ||
Add (2): | Hope Bancorp, Inc. (NASDAQ:HOPE) | |
Sterling Bancorp (NYSE:STL) | ||
Delete (2): | Park National Corp. (NYSE:PRK) | |
City Holding Co. (NASDAQ:CHCO) | ||
PRK and CHCO failed to meet the minimum monthly average daily trading volume requirement. | ||
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 Tickers: 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 Mortgage Finance Index (Index Ticker: MFXSM); KBW Nasdaq Global Bank Index (Index Ticker: GBKXSM); KBW Nasdaq Financial Technology Index (Index Ticker: KFTXSM).
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.
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Contacts:
Intermarket Communications
Neil Shapiro, 212-754-5423
