SPDR S&P Bank ETF (NYSEARCA:KBE) Reaches New 1-Year High – Time to Buy?

SPDR S&P Bank ETF (NYSEARCA:KBE)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $63.21 and last traded at $62.66, with a volume of 1154833 shares. The stock had previously closed at $62.48.

SPDR S&P Bank ETF Stock Performance

The firm has a market capitalization of $1.50 billion, a PE ratio of 12.60 and a beta of 0.97. The company has a fifty day moving average price of $58.18 and a 200-day moving average price of $57.91.

Hedge Funds Weigh In On SPDR S&P Bank ETF

Institutional investors have recently bought and sold shares of the business. US Bancorp DE increased its holdings in shares of SPDR S&P Bank ETF by 43.9% in the 1st quarter. US Bancorp DE now owns 1,065 shares of the exchange traded fund’s stock worth $56,000 after buying an additional 325 shares during the last quarter. Citigroup Inc. grew its position in SPDR S&P Bank ETF by 357.8% in the first quarter. Citigroup Inc. now owns 131,827 shares of the exchange traded fund’s stock worth $6,982,000 after acquiring an additional 103,032 shares in the last quarter. HighTower Advisors LLC increased its stake in SPDR S&P Bank ETF by 10.0% during the first quarter. HighTower Advisors LLC now owns 10,228 shares of the exchange traded fund’s stock worth $542,000 after acquiring an additional 934 shares during the last quarter. Raymond James Financial Inc. raised its position in SPDR S&P Bank ETF by 9.3% during the first quarter. Raymond James Financial Inc. now owns 230,824 shares of the exchange traded fund’s stock valued at $12,224,000 after purchasing an additional 19,731 shares during the period. Finally, Hsbc Holdings PLC purchased a new stake in SPDR S&P Bank ETF during the first quarter valued at approximately $1,061,000.

About SPDR S&P Bank ETF

SPDR KBW Bank ETF, formerly The SPDR S&P Bank ETF (the Fund), seeks to closely match the returns and characteristics of the S&P Banks Select Industry Index. The S&P Banks Select Industry Index is a float adjusted modified-market, capitalization-weighted index that seeks to reflect the performance of publicly traded companies that do business as banks or thrifts.