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

SPDR S&P Bank ETF (NYSEARCA:KBE) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $55.08 and last traded at $55.07, with a volume of 279144 shares. The stock had previously closed at $54.59.

SPDR S&P Bank ETF Stock Performance

The firm has a market cap of $1.64 billion, a P/E ratio of 7.86 and a beta of 1.42. The firm’s fifty day moving average is $52.20 and its 200 day moving average is $48.76.

Institutional Investors Weigh In On SPDR S&P Bank ETF

Institutional investors have recently made changes to their positions in the company. Centaurus Financial Inc. bought a new stake in shares of SPDR S&P Bank ETF in the fourth quarter valued at about $141,000. Calton & Associates Inc. boosted its holdings in SPDR S&P Bank ETF by 20.3% in the 1st quarter. Calton & Associates Inc. now owns 13,188 shares of the exchange traded fund’s stock valued at $621,000 after purchasing an additional 2,221 shares during the period. Advisor Resource Council acquired a new position in shares of SPDR S&P Bank ETF during the 1st quarter worth approximately $227,000. Commonwealth Equity Services LLC increased its holdings in shares of SPDR S&P Bank ETF by 8.2% during the first quarter. Commonwealth Equity Services LLC now owns 28,495 shares of the exchange traded fund’s stock worth $1,342,000 after purchasing an additional 2,156 shares during the period. Finally, BNP Paribas Financial Markets raised 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 valued at $7,835,000 after buying an additional 140,601 shares in the last quarter.

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.