SPDR S&P Bank ETF (NYSEARCA:KBE) Sets New 1-Year High – Should You Buy?

SPDR S&P Bank ETF (NYSEARCA:KBE)’s stock price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $71.89 and last traded at $71.73, with a volume of 201920 shares. The stock had previously closed at $71.41.

SPDR S&P Bank ETF Trading Up 0.4%

The stock’s 50-day moving average is $68.45 and its 200-day moving average is $64.64. The stock has a market cap of $1.70 billion, a price-to-earnings ratio of 12.60 and a beta of 0.89.

Hedge Funds Weigh In On SPDR S&P Bank ETF

Several hedge funds and other institutional investors have recently made changes to their positions in the business. FWL Investment Management LLC acquired a new position in shares of SPDR S&P Bank ETF during the 3rd quarter valued at $32,000. Advocate Investing Services LLC acquired a new stake in SPDR S&P Bank ETF in the 4th quarter valued at $43,000. Camelot Portfolios LLC purchased a new position in SPDR S&P Bank ETF in the fourth quarter valued at about $50,000. MWA Asset Management purchased a new position in SPDR S&P Bank ETF in the first quarter valued at about $56,000. Finally, EFG International AG acquired a new position in shares of SPDR S&P Bank ETF during the fourth quarter worth about $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).