SPDR S&P Bank ETF (NYSEARCA:KBE) Reaches 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 Thursday . The stock traded as high as $63.40 and last traded at $63.4890, with a volume of 377584 shares changing hands. The stock had previously closed at $62.44.

SPDR S&P Bank ETF Price Performance

The company has a market cap of $1.36 billion, a PE ratio of 12.60 and a beta of 0.97. The company’s 50 day simple moving average is $60.01 and its two-hundred day simple moving average is $59.00.

Institutional Trading of SPDR S&P Bank ETF

Institutional investors have recently added to or reduced their stakes in the stock. Wagner Wealth Management LLC purchased a new stake in shares of SPDR S&P Bank ETF in the 3rd quarter valued at $29,000. Monetary Management Group Inc. acquired a new position in SPDR S&P Bank ETF in the 3rd quarter valued at about $30,000. FWL Investment Management LLC purchased a new stake in SPDR S&P Bank ETF during the third quarter worth about $32,000. Ameritas Advisory Services LLC purchased a new position in shares of SPDR S&P Bank ETF in the second quarter valued at approximately $35,000. Finally, HHM Wealth Advisors LLC boosted its stake in shares of SPDR S&P Bank ETF by 3,886.4% in the third quarter. HHM Wealth Advisors LLC now owns 877 shares of the exchange traded fund’s stock valued at $52,000 after purchasing an additional 855 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).