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

SPDR S&P Bank ETF (NYSEARCA:KBE)’s share price hit a new 52-week high during trading on Thursday . The stock traded as high as $68.11 and last traded at $68.00, with a volume of 166781 shares trading hands. The stock had previously closed at $67.49.

SPDR S&P Bank ETF Stock Up 1.5%

The company has a market cap of $1.60 billion, a price-to-earnings ratio of 12.60 and a beta of 0.90. The business’s fifty day simple moving average is $64.13 and its two-hundred day simple moving average is $62.84.

Institutional Investors Weigh In On SPDR S&P Bank ETF

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. SummitTX Capital L.P. acquired a new position in SPDR S&P Bank ETF in the first quarter valued at $1,038,000. Renaissance Technologies LLC acquired a new stake in shares of SPDR S&P Bank ETF in the 1st quarter valued at about $2,090,000. Bank of Nova Scotia purchased a new position in SPDR S&P Bank ETF during the 1st quarter worth approximately $238,000. MWA Asset Management purchased a new position in SPDR S&P Bank ETF during the 1st quarter worth approximately $56,000. Finally, Cetera Investment Advisers increased its position in SPDR S&P Bank ETF by 7.6% during the first quarter. Cetera Investment Advisers now owns 50,312 shares of the exchange traded fund’s stock worth $2,996,000 after buying an additional 3,566 shares during the period.

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).