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

SPDR S&P Bank ETF (NYSEARCA:KBE) reached a new 52-week high on Tuesday . The stock traded as high as $71.49 and last traded at $71.46, with a volume of 358365 shares. The stock had previously closed at $70.52.

SPDR S&P Bank ETF Stock Performance

The firm’s 50 day simple moving average is $67.28 and its 200-day simple moving average is $64.24. The company has a market capitalization of $1.69 billion, a price-to-earnings ratio of 12.60 and a beta of 0.89.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of KBE. FWL Investment Management LLC acquired a new stake in SPDR S&P Bank ETF during the 3rd quarter worth about $32,000. Advocate Investing Services LLC acquired a new position in shares of SPDR S&P Bank ETF in the fourth quarter worth $43,000. Camelot Portfolios LLC purchased a new stake in shares of SPDR S&P Bank ETF during the fourth quarter worth $50,000. MWA Asset Management acquired a new stake in SPDR S&P Bank ETF during the first quarter valued at $56,000. Finally, EFG International AG acquired a new stake in SPDR S&P Bank ETF during the fourth quarter valued at $76,000.

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).