SPDR S&P Bank ETF (NYSEARCA:KBE) Stock Price Passes Above 200-Day Moving Average – Here’s Why

SPDR S&P Bank ETF (NYSEARCA:KBE)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $64.91 and traded as high as $69.23. SPDR S&P Bank ETF shares last traded at $68.74, with a volume of 1,606,013 shares traded.

SPDR S&P Bank ETF Stock Performance

The company’s 50-day moving average is $69.01 and its 200 day moving average is $64.91. The company has a market capitalization of $1.63 billion, a PE ratio of 12.60 and a beta of 0.89.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Timbuktu Capital Management LLC bought a new stake in shares of SPDR S&P Bank ETF during the second quarter valued at approximately $41,000. Quantitative Investment Management LLC purchased a new position in SPDR S&P Bank ETF in the 2nd quarter worth approximately $4,791,000. Ancora Advisors LLC bought a new position in SPDR S&P Bank ETF in the 2nd quarter valued at approximately $118,000. North Star Asset Management Inc. bought a new position in SPDR S&P Bank ETF in the 2nd quarter valued at approximately $622,000. Finally, MRA Advisory Group lifted its position in SPDR S&P Bank ETF by 4.9% in the 2nd quarter. MRA Advisory Group now owns 112,634 shares of the exchange traded fund’s stock valued at $7,684,000 after acquiring an additional 5,234 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. 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).