SPDR S&P Regional Banking ETF (NYSEARCA:KRE) Sets New 52-Week High – Time to Buy?

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

SPDR S&P Regional Banking ETF Stock Performance

The company’s 50 day moving average price is $57.48 and its 200 day moving average price is $53.33. The company has a market cap of $3.47 billion, a price-to-earnings ratio of 8.36 and a beta of 1.56.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of KRE. Jane Street Group LLC increased its stake in shares of SPDR S&P Regional Banking ETF by 136.5% during the 1st quarter. Jane Street Group LLC now owns 2,894,177 shares of the exchange traded fund’s stock worth $145,519,000 after purchasing an additional 1,670,478 shares during the last quarter. Baymount Management LP acquired a new position in shares of SPDR S&P Regional Banking ETF during the 1st quarter worth $51,185,000. Mirae Asset Securities USA Inc. acquired a new position in shares of SPDR S&P Regional Banking ETF during the 2nd quarter worth $36,825,000. DRW Securities LLC increased its stake in shares of SPDR S&P Regional Banking ETF by 117.6% during the 2nd quarter. DRW Securities LLC now owns 112,000 shares of the exchange traded fund’s stock worth $5,499,000 after purchasing an additional 748,248 shares during the last quarter. Finally, SG Americas Securities LLC boosted its holdings in shares of SPDR S&P Regional Banking ETF by 1,414.4% during the 2nd quarter. SG Americas Securities LLC now owns 700,479 shares of the exchange traded fund’s stock worth $34,394,000 after buying an additional 654,225 shares during the period.

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.