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

SPDR S&P Regional Banking ETF (NYSEARCA:KRE) hit a new 52-week high during trading on Thursday . The company traded as high as $68.21 and last traded at $68.3920, with a volume of 9822426 shares trading hands. The stock had previously closed at $66.75.

SPDR S&P Regional Banking ETF Price Performance

The company has a market cap of $4.25 billion, a price-to-earnings ratio of 12.39 and a beta of 0.90. The business’s 50-day simple moving average is $63.80 and its 200-day simple moving average is $62.93.

Institutional Investors Weigh In On SPDR S&P Regional Banking ETF

A number of large investors have recently bought and sold shares of KRE. 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. increased its position in SPDR S&P Regional Banking ETF by 9.3% during the 3rd quarter. Bessemer Group Inc. now owns 2,187,419 shares of the exchange traded fund’s stock worth $138,462,000 after purchasing an additional 185,920 shares in the last quarter. Kapitalo Investimentos Ltda purchased a new stake in SPDR S&P Regional Banking ETF during the 3rd quarter worth about $104,441,000. Jump Financial LLC acquired a new position in SPDR S&P Regional Banking ETF in the 3rd quarter valued at about $46,715,000. Finally, Nan Shan Life Insurance Co. Ltd. lifted its holdings in SPDR S&P Regional Banking ETF by 3,515.3% in the 3rd quarter. Nan Shan Life Insurance Co. Ltd. now owns 651,544 shares of the exchange traded fund’s stock valued at $41,243,000 after purchasing an additional 633,522 shares in the last quarter.

About SPDR S&P Regional Banking ETF

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.