SPDR S&P Regional Banking ETF (NYSEARCA:KRE) Reaches New 52-Week High – Here’s Why

SPDR S&P Regional Banking ETF (NYSEARCA:KRE) hit a new 52-week high on Monday . The company traded as high as $74.14 and last traded at $74.01, with a volume of 2349096 shares changing hands. The stock had previously closed at $73.41.

SPDR S&P Regional Banking ETF Price Performance

The stock’s 50 day simple moving average is $69.26 and its two-hundred day simple moving average is $67.80. The firm has a market cap of $4.39 billion, a P/E ratio of 12.39 and a beta of 0.84.

Hedge Funds Weigh In On SPDR S&P Regional Banking ETF

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Evansbrook LLC increased its stake in shares of SPDR S&P Regional Banking ETF by 3.9% during the first quarter. Evansbrook LLC now owns 5,290 shares of the exchange traded fund’s stock valued at $345,000 after purchasing an additional 200 shares in the last quarter. Glenmede Trust Co. NA increased its stake in shares of SPDR S&P Regional Banking ETF by 17.3% during the first quarter. Glenmede Trust Co. NA now owns 1,525 shares of the exchange traded fund’s stock valued at $99,000 after purchasing an additional 225 shares in the last quarter. KCM Investment Advisors LLC grew its holdings in shares of SPDR S&P Regional Banking ETF by 39.5% during the first quarter. KCM Investment Advisors LLC now owns 5,345 shares of the exchange traded fund’s stock valued at $348,000 after buying an additional 1,513 shares during the last quarter. Waverly Advisors LLC grew its holdings in shares of SPDR S&P Regional Banking ETF by 883.2% during the first quarter. Waverly Advisors LLC now owns 85,725 shares of the exchange traded fund’s stock valued at $5,585,000 after buying an additional 77,006 shares during the last quarter. Finally, Galaxy Digital Inc. purchased a new stake in shares of SPDR S&P Regional Banking ETF during the first quarter valued at approximately $1,032,000.

About SPDR S&P Regional Banking ETF

SPDR KBW Regional Banking ETF, formerly SPDR S&P Regional Banking ETF, seeks to closely match the returns and characteristics of the S&P Regional Banks Select Industry Index. Its approach is designed to provide portfolios with low portfolio turnover, tracking, and lower costs. As of October 27, 2011, the Company’s holding included Privatebancorp Inc, Webster Finl Corp Conn, Umpqua Hldgs Corp, Firstmerit Corp, East West Bancorp Inc, Fifth Third Bancorp, Fnb Corp Pa, Susquehanna Bancshares Inc and Keycorp New and First Rep Bk San Fran Cali.