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

Shares of SPDR S&P Regional Banking ETF (NYSEARCA:KRE) reached a new 52-week high on Wednesday . The company traded as high as $67.96 and last traded at $67.67, with a volume of 6483615 shares changing hands. The stock had previously closed at $66.60.

SPDR S&P Regional Banking ETF Price Performance

The firm’s 50-day moving average is $58.40 and its two-hundred day moving average is $53.94. The company has a market cap of $3.52 billion, a P/E ratio of 8.36 and a beta of 1.56.

Hedge Funds Weigh In On SPDR S&P Regional Banking ETF

A number of institutional investors and hedge funds have recently modified their holdings of the stock. SageView Advisory Group LLC purchased a new stake in SPDR S&P Regional Banking ETF in the 1st quarter worth about $163,000. Wintrust Investments LLC grew its position in SPDR S&P Regional Banking ETF by 8.4% in the 1st quarter. Wintrust Investments LLC now owns 28,785 shares of the exchange traded fund’s stock valued at $1,447,000 after acquiring an additional 2,227 shares during the last quarter. Patten & Patten Inc. TN increased its stake in SPDR S&P Regional Banking ETF by 19.4% in the first quarter. Patten & Patten Inc. TN now owns 57,971 shares of the exchange traded fund’s stock worth $2,915,000 after purchasing an additional 9,411 shares during the period. Lcnb Corp purchased a new stake in SPDR S&P Regional Banking ETF in the first quarter worth $225,000. Finally, Bessemer Group Inc. lifted its position in shares of SPDR S&P Regional Banking ETF by 7.5% during the first quarter. Bessemer Group Inc. now owns 913,986 shares of the exchange traded fund’s stock worth $45,956,000 after purchasing an additional 63,380 shares during the last quarter.

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.