SPDR S&P Regional Banking ETF (NYSEARCA:KRE) Reaches New 52-Week High – Should You Buy?

SPDR S&P Regional Banking ETF (NYSEARCA:KRE) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $77.37 and last traded at $77.20, with a volume of 4337235 shares changing hands. The stock had previously closed at $75.78.

SPDR S&P Regional Banking ETF Price Performance

The stock’s 50-day moving average price is $71.87 and its 200 day moving average price is $69.30. The firm has a market cap of $4.84 billion, a P/E ratio of 12.39 and a beta of 0.84.

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

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Arax Advisory Partners acquired a new stake in shares of SPDR S&P Regional Banking ETF in the fourth quarter valued at about $25,000. Aventura Private Wealth LLC acquired a new position in SPDR S&P Regional Banking ETF during the fourth quarter valued at approximately $26,000. MWA Asset Management bought a new position in SPDR S&P Regional Banking ETF in the first quarter valued at approximately $46,000. UMB Bank n.a. bought a new position in SPDR S&P Regional Banking ETF in the fourth quarter valued at approximately $52,000. Finally, Assetmark Inc. grew its stake in SPDR S&P Regional Banking ETF by 207.0% in the fourth quarter. Assetmark Inc. now owns 1,059 shares of the exchange traded fund’s stock valued at $69,000 after purchasing an additional 714 shares in 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.