SPDR S&P Bank ETF (NYSEARCA:KBE) Sets New 12-Month High – Should You Buy?

SPDR S&P Bank ETF (NYSEARCA:KBE) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $59.88 and last traded at $59.87, with a volume of 92565 shares. The stock had previously closed at $54.67.

SPDR S&P Bank ETF Trading Up 11.9 %

The company has a market cap of $1.80 billion, a PE ratio of 7.86 and a beta of 1.42. The firm’s fifty day moving average is $53.27 and its 200 day moving average is $49.78.

Institutional Investors Weigh In On SPDR S&P Bank ETF

Several large investors have recently modified their holdings of the company. BNP Paribas Financial Markets increased its position in shares of SPDR S&P Bank ETF by 546.0% in the first quarter. BNP Paribas Financial Markets now owns 166,353 shares of the exchange traded fund’s stock worth $7,835,000 after acquiring an additional 140,601 shares in the last quarter. Quantbot Technologies LP purchased a new position in SPDR S&P Bank ETF during the first quarter valued at approximately $518,000. ProVise Management Group LLC increased its stake in shares of SPDR S&P Bank ETF by 9.2% during the 1st quarter. ProVise Management Group LLC now owns 184,841 shares of the exchange traded fund’s stock worth $8,706,000 after purchasing an additional 15,555 shares during the last quarter. Vima LLC raised its holdings in SPDR S&P Bank ETF by 7.0% in the 1st quarter. Vima LLC now owns 12,879 shares of the exchange traded fund’s stock worth $607,000 after acquiring an additional 842 shares during the period. Finally, Cetera Advisors LLC lifted its position in shares of SPDR S&P Bank ETF by 252.9% in the 1st quarter. Cetera Advisors LLC now owns 20,224 shares of the exchange traded fund’s stock worth $953,000 after acquiring an additional 14,493 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.