SPDR S&P Bank ETF (NYSEARCA:KBE) Hits New 1-Year High – What’s Next?

SPDR S&P Bank ETF (NYSEARCA:KBE) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $67.79 and last traded at $67.35, with a volume of 816819 shares traded. The stock had previously closed at $66.94.

SPDR S&P Bank ETF Stock Down 0.6%

The stock has a market cap of $1.55 billion, a P/E ratio of 12.60 and a beta of 0.90. The stock has a fifty day simple moving average of $63.44 and a 200-day simple moving average of $62.46.

Hedge Funds Weigh In On SPDR S&P Bank ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KBE. Monetary Management Group Inc. bought a new position in SPDR S&P Bank ETF during the third quarter worth about $30,000. FWL Investment Management LLC bought a new position in SPDR S&P Bank ETF during the third quarter worth about $32,000. Advocate Investing Services LLC bought a new position in SPDR S&P Bank ETF during the fourth quarter worth about $43,000. Camelot Portfolios LLC bought a new position in SPDR S&P Bank ETF during the fourth quarter worth about $50,000. Finally, MWA Asset Management bought a new position in SPDR S&P Bank ETF during the first quarter worth about $56,000.

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. 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).