SPDR S&P Regional Banking ETF (NYSEARCA:KRE) Reaches New 12-Month High – Still a Buy?

SPDR S&P Regional Banking ETF (NYSEARCA:KRE)’s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $68.65 and last traded at $68.65, with a volume of 79424 shares trading hands. The stock had previously closed at $67.79.

SPDR S&P Regional Banking ETF Trading Down 1.1 %

The stock has a market capitalization of $3.64 billion, a PE ratio of 8.36 and a beta of 1.56. The firm has a 50-day moving average price of $59.98 and a 200-day moving average price of $54.86.

Institutional Trading of SPDR S&P Regional Banking ETF

Several hedge funds have recently added to or reduced their stakes in the stock. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of SPDR S&P Regional Banking ETF during the 2nd quarter worth $50,000. Larson Financial Group LLC bought a new position in SPDR S&P Regional Banking ETF during the third quarter worth about $57,000. Future Financial Wealth Managment LLC bought a new position in SPDR S&P Regional Banking ETF during the third quarter worth about $58,000. Family Firm Inc. purchased a new position in shares of SPDR S&P Regional Banking ETF in the second quarter worth about $60,000. Finally, Bristlecone Advisors LLC bought a new stake in shares of SPDR S&P Regional Banking ETF in the third quarter valued at approximately $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.