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

SPDR S&P Regional Banking ETF (NYSEARCA:KRE) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $65.13 and last traded at $65.13, with a volume of 4646269 shares changing hands. The stock had previously closed at $59.13.

SPDR S&P Regional Banking ETF Trading Up 13.4 %

The firm has a market cap of $3.58 billion, a PE ratio of 8.36 and a beta of 1.56. The firm has a 50 day moving average price of $57.14 and a 200-day moving average price of $53.15.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Oppenheimer & Co. Inc. increased its position in SPDR S&P Regional Banking ETF by 258.1% during the third quarter. Oppenheimer & Co. Inc. now owns 99,222 shares of the exchange traded fund’s stock worth $5,616,000 after buying an additional 71,511 shares during the period. Prime Capital Investment Advisors LLC acquired a new position in SPDR S&P Regional Banking ETF during the third quarter worth approximately $565,000. Patten & Patten Inc. TN increased its position in SPDR S&P Regional Banking ETF by 10.1% during the third quarter. Patten & Patten Inc. TN now owns 81,236 shares of the exchange traded fund’s stock worth $4,598,000 after buying an additional 7,465 shares during the period. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of SPDR S&P Regional Banking ETF in the third quarter valued at approximately $856,000. Finally, Sigma Planning Corp acquired a new position in shares of SPDR S&P Regional Banking ETF in the third quarter valued at approximately $211,000.

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.