SPDR S&P Bank ETF (NYSEARCA:KBE) Sets New 12-Month High – Here’s Why

SPDR S&P Bank ETF (NYSEARCA:KBE)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $67.75 and last traded at $67.25, with a volume of 1280254 shares trading hands. The stock had previously closed at $67.41.

SPDR S&P Bank ETF Trading Down 0.2%

The firm has a fifty day simple moving average of $62.78 and a two-hundred day simple moving average of $59.97. The stock has a market cap of $1.62 billion, a PE ratio of 12.60 and a beta of 0.97.

Hedge Funds Weigh In On SPDR S&P Bank ETF

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Belpointe Asset Management LLC raised its position in shares of SPDR S&P Bank ETF by 175.2% during the 3rd quarter. Belpointe Asset Management LLC now owns 16,777 shares of the exchange traded fund’s stock valued at $997,000 after buying an additional 10,681 shares in the last quarter. Ameritas Advisory Services LLC bought a new position in SPDR S&P Bank ETF in the second quarter valued at $35,000. Stephens Inc. AR raised its position in SPDR S&P Bank ETF by 7.3% during the second quarter. Stephens Inc. AR now owns 10,110 shares of the exchange traded fund’s stock valued at $564,000 after purchasing an additional 688 shares in the last quarter. Envestnet Asset Management Inc. raised its position in SPDR S&P Bank ETF by 161.5% during the second quarter. Envestnet Asset Management Inc. now owns 61,412 shares of the exchange traded fund’s stock valued at $3,424,000 after purchasing an additional 37,929 shares in the last quarter. Finally, Cetera Investment Advisers lifted its stake in SPDR S&P Bank ETF by 32.3% during the second quarter. Cetera Investment Advisers now owns 40,972 shares of the exchange traded fund’s stock worth $2,285,000 after purchasing an additional 10,013 shares during 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. 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).