SPDR S&P Regional Banking ETF (NYSEARCA:KRE) Reaches New 52-Week High – Here’s Why

SPDR S&P Regional Banking ETF (NYSEARCA:KRE)’s share price reached a new 52-week high on Monday . The company traded as high as $74.14 and last traded at $74.01, with a volume of 2349096 shares. The stock had previously closed at $73.41.

SPDR S&P Regional Banking ETF Stock Performance

The company has a market capitalization of $4.39 billion, a P/E ratio of 12.39 and a beta of 0.84. The firm’s fifty day moving average is $69.26 and its 200 day moving average is $67.80.

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

A number of institutional investors and hedge funds have recently modified their holdings of KRE. Great Hill Capital LLC purchased a new position in shares of SPDR S&P Regional Banking ETF in the 3rd quarter valued at $1,582,000. Allspring Global Investments Holdings LLC purchased a new position in shares of SPDR S&P Regional Banking ETF in the 4th quarter valued at $36,021,000. Valley Wealth Managers Inc. boosted its stake in SPDR S&P Regional Banking ETF by 19,594,500.0% in the fourth quarter. Valley Wealth Managers Inc. now owns 195,946 shares of the exchange traded fund’s stock valued at $12,699,000 after acquiring an additional 195,945 shares in the last quarter. Quantbot Technologies LP acquired a new stake in SPDR S&P Regional Banking ETF in the third quarter valued at approximately $3,355,000. Finally, Econ Financial Services Corp acquired a new stake in SPDR S&P Regional Banking ETF in the fourth quarter valued at approximately $1,537,000.

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.