SPDR S&P Bank ETF (NYSEARCA:KBE) Sees Large Volume Increase – Still a Buy?

Shares of SPDR S&P Bank ETF (NYSEARCA:KBE) saw an uptick in trading volume on Thursday . 1,427,612 shares traded hands during mid-day trading, a decline of 38% from the previous session’s volume of 2,301,370 shares.The stock last traded at $63.06 and had previously closed at $63.36.

SPDR S&P Bank ETF Trading Up 0.1%

The stock’s 50-day moving average is $61.73 and its 200-day moving average is $61.67. The stock has a market cap of $1.48 billion, a P/E ratio of 12.60 and a beta of 0.92.

Institutional Investors Weigh In On SPDR S&P Bank ETF

Institutional investors and hedge funds have recently bought and sold shares of the business. Belpointe Asset Management LLC lifted its holdings in SPDR S&P Bank ETF by 175.2% in the 3rd quarter. Belpointe Asset Management LLC now owns 16,777 shares of the exchange traded fund’s stock valued at $997,000 after acquiring an additional 10,681 shares during the last quarter. ProVise Management Group LLC lifted its holdings in SPDR S&P Bank ETF by 4.3% in the 3rd quarter. ProVise Management Group LLC now owns 209,496 shares of the exchange traded fund’s stock valued at $12,448,000 after acquiring an additional 8,557 shares during the last quarter. Oppenheimer & Co. Inc. acquired a new stake in SPDR S&P Bank ETF in the 3rd quarter valued at about $1,039,000. Group One Trading LLC lifted its holdings in SPDR S&P Bank ETF by 68.0% in the 3rd quarter. Group One Trading LLC now owns 22,306 shares of the exchange traded fund’s stock valued at $1,325,000 after acquiring an additional 9,028 shares during the last quarter. Finally, Almanack Investment Partners LLC. acquired a new stake in SPDR S&P Bank ETF in the 4th quarter valued at about $536,000.

SPDR S&P Bank ETF Company Profile

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. The S&P Banks Select Industry Index consists of common stocks of national money centers and regional banks or thrifts listed on the New York Stock Exchange (NYSE) or another United States national securities exchange, (NASDAQ)/National Market System (NMS).