SPDR S&P Bank ETF (NYSEARCA:KBE) Hits New 1-Year High – What’s Next?

SPDR S&P Bank ETF (NYSEARCA:KBE) shares hit a new 52-week high on Wednesday . The stock traded as high as $59.88 and last traded at $59.87, with a volume of 92565 shares trading hands. The stock had previously closed at $54.67.

SPDR S&P Bank ETF Stock Up 0.5 %

The stock has a market cap of $1.75 billion, a P/E ratio of 7.86 and a beta of 1.42. The firm’s 50-day moving average is $53.55 and its two-hundred day moving average is $49.93.

Hedge Funds Weigh In On SPDR S&P Bank ETF

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Janney Capital Management LLC bought a new position in SPDR S&P Bank ETF during the third quarter valued at approximately $19,805,000. ProVise Management Group LLC raised its position in shares of SPDR S&P Bank ETF by 3.3% in the second quarter. ProVise Management Group LLC now owns 190,879 shares of the exchange traded fund’s stock valued at $8,855,000 after purchasing an additional 6,038 shares during the period. SG Americas Securities LLC raised its position in shares of SPDR S&P Bank ETF by 0.4% in the second quarter. SG Americas Securities LLC now owns 175,616 shares of the exchange traded fund’s stock valued at $8,147,000 after purchasing an additional 734 shares during the period. BNP Paribas Financial Markets raised its position in shares of SPDR S&P Bank ETF by 546.0% in the first quarter. BNP Paribas Financial Markets now owns 166,353 shares of the exchange traded fund’s stock valued at $7,835,000 after purchasing an additional 140,601 shares during the period. Finally, Alaska Permanent Fund Corp raised its position in shares of SPDR S&P Bank ETF by 45.7% in the third quarter. Alaska Permanent Fund Corp now owns 153,000 shares of the exchange traded fund’s stock valued at $8,092,000 after purchasing an additional 48,000 shares during the period.

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.