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

SPDR S&P Regional Banking ETF (NYSEARCA:KRE) hit 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 traded. The stock had previously closed at $66.60.

SPDR S&P Regional Banking ETF Price Performance

The business’s 50-day moving average price is $58.00 and its two-hundred day moving average price is $53.77. The company has a market capitalization of $3.54 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 hedge funds and other institutional investors have recently made changes to their positions in the company. Clear Point Advisors Inc. bought a new stake in SPDR S&P Regional Banking ETF in the 1st quarter valued at $44,000. Larson Financial Group LLC bought a new stake in SPDR S&P Regional Banking ETF during the 3rd quarter worth about $57,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in SPDR S&P Regional Banking ETF during the 2nd quarter worth about $50,000. Future Financial Wealth Managment LLC bought a new stake in SPDR S&P Regional Banking ETF during the 3rd quarter worth about $58,000. Finally, Bristlecone Advisors LLC bought a new stake in SPDR S&P Regional Banking ETF during the 3rd quarter worth about $68,000.

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.