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

SPDR S&P Regional Banking ETF (NYSEARCA:KRE)’s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as $75.91 and last traded at $75.73, with a volume of 3771378 shares traded. The stock had previously closed at $74.85.

SPDR S&P Regional Banking ETF Stock Performance

The company’s fifty day simple moving average is $70.42 and its two-hundred day simple moving average is $68.55. The stock has a market capitalization of $4.60 billion, a PE ratio of 12.39 and a beta of 0.84.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Morgan Stanley lifted its stake in SPDR S&P Regional Banking ETF by 23.3% in the 4th quarter. Morgan Stanley now owns 13,915,604 shares of the exchange traded fund’s stock valued at $901,870,000 after buying an additional 2,630,511 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its position in SPDR S&P Regional Banking ETF by 6.2% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 8,964,000 shares of the exchange traded fund’s stock worth $580,957,000 after buying an additional 521,000 shares in the last quarter. Two Sigma Investments LP increased its position in SPDR S&P Regional Banking ETF by 19.0% during the third quarter. Two Sigma Investments LP now owns 3,919,400 shares of the exchange traded fund’s stock worth $248,098,000 after buying an additional 626,836 shares in the last quarter. Bessemer Group Inc. raised its holdings in shares of SPDR S&P Regional Banking ETF by 17.3% in the first quarter. Bessemer Group Inc. now owns 2,266,123 shares of the exchange traded fund’s stock worth $147,640,000 after acquiring an additional 333,799 shares during the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd acquired a new position in shares of SPDR S&P Regional Banking ETF in the first quarter worth $83,392,000.

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.