公募补仓+险资举牌+南向增持三重驱动，银行ETF优选（517900）盘中刷新上市新高

Group 1 - The core viewpoint of the news highlights the strong performance of bank ETFs and bank stocks, driven by multiple factors including increased institutional investment and favorable market conditions [1][3]. - Bank ETFs, specifically the 517900, have shown significant gains, reaching new highs and attracting a net inflow of 44 million yuan over the past 20 trading days [1]. - Public funds are currently underweight in bank stocks, holding only 3.8% of their market value in banks compared to the 13.8% weight in the CSI 300 index, indicating a potential for over 270 billion yuan in incremental funds if allocations are adjusted [3]. Group 2 - Insurance companies have significantly increased their holdings in bank stocks, with 15 purchases made by seven insurance firms by the end of May, surpassing the total for the first nine months of 2024 [3]. - The preference for high-dividend bank stocks has notably increased among insurance funds in a low-interest-rate environment, making them attractive for long-term investments [3]. - Southbound capital has also been actively increasing its stake in bank stocks, with net purchases of 277 billion yuan in the last month, 717 billion yuan in the last three months, and 2,099 billion yuan over the past year, leading the industry [3]. Group 3 - The Bank AH Index, which includes both A-shares and H-shares of banks, has outperformed the CSI Bank Index since its inception, with a cumulative return of 81.44% compared to 59.17% for the latter [4]. - The index's performance is attributed to profit growth and dividends rather than valuation expansion, with a 14% contraction in price-to-earnings (PE) ratio since its launch [4].