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KRE

First Trust Advisors L.P., the manager of a popular line of more than 35 ETFs, has announced that its newest fund, the NASDAQ ABA Community Bank Index Fund, will begin trading on the NASDAQ exchange on July 1. The new ETF will trade under the ticker QABA and have an expense ratio of 0.60%. The index tracked by the new ETF is a market capitalization-weighted benchmark that will hold stocks of all NASDAQ-listed banks and thrifts, except: [click to continue…]

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Stress Tests Results Set Stage For Bank ETF Rally

by on May 8, 2009 | Updated May 14, 2009

Late Thursday afternoon, the U.S. Treasury Department released the much-awaited results of the government’s “stress tests” on 19 of the nation’s largest banks. Among the big names instructed to raise capital: Bank of America (BAC), Wells Fargo (WFC), and GMAC. In all, the government’s results indicate that 10 of the banks tested need to raise a total of $75 billion in capital. [click to continue…]

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