SPDR S&P Bank ETF (NYSEARCA:KBE) Sets New 1-Year High – Should You Buy?

SPDR S&P Bank ETF (NYSEARCA:KBE) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $63.50 and last traded at $63.20, with a volume of 283719 shares changing hands. The stock had previously closed at $61.63.

SPDR S&P Bank ETF Stock Performance

The company has a market capitalization of $1.82 billion, a PE ratio of 7.86 and a beta of 1.42. The company has a 50 day moving average price of $55.73 and a 200 day moving average price of $51.32.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Fifth Third Bancorp lifted its position in shares of SPDR S&P Bank ETF by 9.6% during the second quarter. Fifth Third Bancorp now owns 2,520 shares of the exchange traded fund’s stock worth $117,000 after purchasing an additional 220 shares during the last quarter. Private Advisor Group LLC lifted its holdings in SPDR S&P Bank ETF by 3.7% during the 2nd quarter. Private Advisor Group LLC now owns 34,855 shares of the exchange traded fund’s stock worth $1,617,000 after buying an additional 1,241 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of SPDR S&P Bank ETF by 14.8% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 5,968 shares of the exchange traded fund’s stock worth $316,000 after acquiring an additional 769 shares in the last quarter. Essex Financial Services Inc. bought a new stake in shares of SPDR S&P Bank ETF in the 2nd quarter valued at approximately $241,000. Finally, SG Americas Securities LLC raised its position in shares of SPDR S&P Bank ETF by 0.4% during the 2nd quarter. SG Americas Securities LLC now owns 175,616 shares of the exchange traded fund’s stock valued at $8,147,000 after acquiring an additional 734 shares in the last quarter.

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.