SPDR S&P Bank ETF (NYSEARCA:KBE) Sees Large Volume Increase – Here’s Why

SPDR S&P Bank ETF (NYSEARCA:KBE) saw an uptick in trading volume on Wednesday . 3,337,277 shares changed hands during trading, an increase of 70% from the previous session’s volume of 1,960,399 shares.The stock last traded at $53.16 and had previously closed at $52.73.

SPDR S&P Bank ETF Stock Up 0.9 %

The firm has a market capitalization of $2.02 billion, a PE ratio of 12.58 and a beta of 0.99. The stock’s fifty day simple moving average is $56.05 and its 200 day simple moving average is $56.31.

SPDR S&P Bank ETF Dividend Announcement

The business also recently announced a dividend, which was paid on Wednesday, March 26th. Investors of record on Monday, March 24th were given a dividend of $0.3774 per share. The ex-dividend date was Monday, March 24th.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in KBE. Total Wealth Planning & Management Inc. purchased a new stake in SPDR S&P Bank ETF in the 4th quarter worth $447,000. Heck Capital Advisors LLC purchased a new position in SPDR S&P Bank ETF in the fourth quarter worth about $51,000. Forum Financial Management LP purchased a new stake in SPDR S&P Bank ETF during the fourth quarter valued at approximately $942,000. Castlekeep Investment Advisors LLC purchased a new stake in SPDR S&P Bank ETF during the fourth quarter valued at approximately $5,150,000. Finally, GTS Securities LLC lifted its stake in shares of SPDR S&P Bank ETF by 128.8% in the 4th quarter. GTS Securities LLC now owns 4,400 shares of the exchange traded fund’s stock valued at $244,000 after purchasing an additional 19,700 shares during 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.