SPDR S&P Bank ETF (NYSEARCA:KBE) Reaches New 12-Month High – Still a Buy?

SPDR S&P Bank ETF (NYSEARCA:KBE)’s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $63.21 and last traded at $62.66, with a volume of 1154833 shares. The stock had previously closed at $62.48.

SPDR S&P Bank ETF Stock Performance

The company has a 50 day simple moving average of $58.32 and a two-hundred day simple moving average of $58.01. The company has a market cap of $1.50 billion, a PE ratio of 12.60 and a beta of 0.97.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Two Sigma Investments LP boosted its stake in shares of SPDR S&P Bank ETF by 13.8% during the 3rd quarter. Two Sigma Investments LP now owns 2,030,440 shares of the exchange traded fund’s stock valued at $120,649,000 after buying an additional 246,600 shares during the period. Schroder Investment Management Group acquired a new position in shares of SPDR S&P Bank ETF in the second quarter worth $37,514,000. Edmond DE Rothschild Holding S.A. raised its holdings in shares of SPDR S&P Bank ETF by 2.4% during the second quarter. Edmond DE Rothschild Holding S.A. now owns 575,420 shares of the exchange traded fund’s stock worth $32,085,000 after acquiring an additional 13,706 shares in the last quarter. Duquesne Family Office LLC acquired a new stake in SPDR S&P Bank ETF during the third quarter valued at $28,646,000. Finally, Millennium Management LLC boosted its position in SPDR S&P Bank ETF by 20.4% during the first quarter. Millennium Management LLC now owns 433,405 shares of the exchange traded fund’s stock valued at $22,953,000 after purchasing an additional 73,404 shares during the last quarter.

About SPDR S&P Bank ETF

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.