SPDR S&P Bank ETF (NYSEARCA:KBE) Share Price Crosses Above 200-Day Moving Average – What’s Next?

SPDR S&P Bank ETF (NYSEARCA:KBE)’s stock price crossed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $65.49 and traded as high as $65.64. SPDR S&P Bank ETF shares last traded at $65.36, with a volume of 1,556,341 shares trading hands.

SPDR S&P Bank ETF Stock Up 0.9%

The company has a market capitalization of $1.51 billion, a PE ratio of 12.60 and a beta of 0.88. The stock’s fifty day moving average price is $68.77 and its two-hundred day moving average price is $65.49.

Institutional Investors Weigh In On SPDR S&P Bank ETF

Institutional investors and hedge funds have recently bought and sold shares of the business. Envestnet Asset Management Inc. grew its position in shares of SPDR S&P Bank ETF by 60.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 190,106 shares of the exchange traded fund’s stock worth $12,969,000 after buying an additional 71,772 shares during the last quarter. Tidal Investments LLC bought a new position in shares of SPDR S&P Bank ETF during the second quarter valued at approximately $1,449,000. Integrated Wealth Concepts LLC raised its holdings in shares of SPDR S&P Bank ETF by 138.7% during the second quarter. Integrated Wealth Concepts LLC now owns 26,106 shares of the exchange traded fund’s stock valued at $1,781,000 after acquiring an additional 15,167 shares in the last quarter. RFG Advisory LLC purchased a new stake in SPDR S&P Bank ETF in the second quarter worth $205,000. Finally, Baird Financial Group Inc. lifted its stake in SPDR S&P Bank ETF by 1.9% in the second quarter. Baird Financial Group Inc. now owns 17,579 shares of the exchange traded fund’s stock worth $1,199,000 after acquiring an additional 327 shares during the period.

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).