SPDR S&P Regional Banking ETF (NYSEARCA:KRE) Sets New 52-Week High – Still a Buy?

SPDR S&P Regional Banking ETF (NYSEARCA:KRE) hit a new 52-week high on Tuesday . The company traded as high as $78.21 and last traded at $78.21, with a volume of 6473497 shares. The stock had previously closed at $77.06.

SPDR S&P Regional Banking ETF Trading Up 1.0%

The firm has a fifty day simple moving average of $73.56 and a two-hundred day simple moving average of $70.08. The stock has a market cap of $4.76 billion, a PE ratio of 12.39 and a beta of 0.84.

Institutional Investors Weigh In On SPDR S&P Regional Banking ETF

A number of institutional investors and hedge funds have recently bought and sold shares of KRE. Morgan Stanley grew its holdings in shares of SPDR S&P Regional Banking ETF by 23.3% during the 4th quarter. Morgan Stanley now owns 13,915,604 shares of the exchange traded fund’s stock valued at $901,870,000 after purchasing an additional 2,630,511 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd bought a new stake in SPDR S&P Regional Banking ETF in the first quarter worth $83,392,000. MKP Capital Management L.L.C. purchased a new stake in SPDR S&P Regional Banking ETF during the fourth quarter valued at about $48,329,000. Jump Financial LLC purchased a new stake in SPDR S&P Regional Banking ETF during the third quarter valued at about $46,715,000. Finally, Nan Shan Life Insurance Co. Ltd. grew its stake in shares of SPDR S&P Regional Banking ETF by 3,515.3% during the third quarter. Nan Shan Life Insurance Co. Ltd. now owns 651,544 shares of the exchange traded fund’s stock valued at $41,243,000 after buying an additional 633,522 shares during the last quarter.

SPDR S&P Regional Banking ETF Company Profile

SPDR KBW Regional Banking ETF, formerly SPDR S&P Regional Banking ETF, seeks to closely match the returns and characteristics of the S&P Regional Banks Select Industry Index. Its approach is designed to provide portfolios with low portfolio turnover, tracking, and lower costs. As of October 27, 2011, the Company’s holding included Privatebancorp Inc, Webster Finl Corp Conn, Umpqua Hldgs Corp, Firstmerit Corp, East West Bancorp Inc, Fifth Third Bancorp, Fnb Corp Pa, Susquehanna Bancshares Inc and Keycorp New and First Rep Bk San Fran Cali.