SPDR S&P Bank ETF (NYSEARCA:KBE) Sets New 1-Year High – Should You Buy?

SPDR S&P Bank ETF (NYSEARCA:KBE) shares reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $70.34 and last traded at $70.29, with a volume of 110425 shares trading hands. The stock had previously closed at $69.59.

SPDR S&P Bank ETF Price Performance

The firm has a market capitalization of $1.65 billion, a price-to-earnings ratio of 12.60 and a beta of 0.89. The business has a 50 day moving average of $65.77 and a 200 day moving average of $63.64.

Hedge Funds Weigh In On SPDR S&P Bank ETF

A number of hedge funds have recently made changes to their positions in KBE. Almanack Investment Partners LLC. acquired a new position in SPDR S&P Bank ETF during the fourth quarter worth $536,000. Sanctuary Advisors LLC boosted its stake in shares of SPDR S&P Bank ETF by 32.6% in the 4th quarter. Sanctuary Advisors LLC now owns 32,903 shares of the exchange traded fund’s stock valued at $1,997,000 after purchasing an additional 8,083 shares in the last quarter. SG Americas Securities LLC boosted its stake in shares of SPDR S&P Bank ETF by 902.3% in the 4th quarter. SG Americas Securities LLC now owns 32,846 shares of the exchange traded fund’s stock valued at $1,993,000 after purchasing an additional 29,569 shares in the last quarter. Sapient Capital LLC bought a new stake in shares of SPDR S&P Bank ETF in the 4th quarter worth about $1,397,000. Finally, Envestnet Portfolio Solutions Inc. acquired a new stake in shares of SPDR S&P Bank ETF during the 4th quarter worth about $1,479,000.

SPDR S&P Bank ETF Company Profile

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).