Top Regional Bank ETFs Jumped Over 20% on Upbeat Earnings!
Several large American banks have released their better-than-expected earnings this month. $JPMorgan Chase(JPM)$ and $Wells Fargo(WFC)$ reported impressive second-quarter results, with profits increasing by 67% and 57% respectively, largely attributed to a significant surge in net interest income.
Regional banks like $Northern(NTRS)$ , $U.S. Bancorp(USB)$ , $Citizens(CFG)$ , $Zions(ZION)$ , and $Western Alliance(WAL)$ are also performing well and experiencing continuous growth. They have implemented various measures to strengthen their financial positions and improve their balance sheets.
Todd Rosenbluth, head of research at VettaFi, said.
“Investor confidence that positive fundamentals will occur in the second half has pushed stocks higher.”
As a result, bank stocks ETFs have performed exceptionally well this week. $DIREXION SHARES ETF TRUST DAILY REGIONAL BANKS BULL 3X SHS(R/SPLT)(DPST)$ surged by 23% during the week. $MicroSectors US Big Banks Index 3X Leveraged ETN(BNKU)$ increased by 20% in the week. $Invesco KBW Regional Banking ETF(KBWR)$ , $SPDR S&P Regional Banking ETF(KRE)$ , $iShares US Regional Banks ETF(IAT)$ also rose by over 7% during the week.
What ticker to invest in regional banks?
1. $DIREXION SHARES ETF TRUST DAILY REGIONAL BANKS BULL 3X SHS(R/SPLT)(DPST)$
Direxion Daily Regional Banks Bull 3X Shares seeks daily investment results, before fees and expenses, of 300% of the performance of the S&P Regional Banks Select Industry Index.
2. $MicroSectors US Big Banks Index 3X Leveraged ETN(BNKU)$
The ETNs provide levered exposure to the Solactive MicroSectors™ U.S. Big Banks Index. The Solactive MicroSectors™ U.S. Big Banks Index, an equal-dollar weighted index, was created by Solactive AG in 2019 to provide exposure to the 10 largest U.S. banks and financial services companies.
3. $Invesco KBW Regional Banking ETF(KBWR)$
KBWR provides exposure to regional banks. The fund is up 8.8% over a one-week period. The fund has partially recouped losses after plummeting during the banking crisis in mid-March, but is still down 12.2% year-to-date. KBWR is down 10.5% over a one-year period.
4. $SPDR S&P Regional Banking ETF(KRE)$
The Regional Banking ETF seeks to provide exposure the regional banks segment of the S&P TMI.
5. $iShares US Regional Banks ETF(IAT)$
The iShares U.S. Regional Banks ETF seeks to track the investment results of an index composed of U.S. equities in the regional banks sector.
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[Miser]