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

SPDR S&P Regional Banking ETF (NYSEARCA:KRE) hit a new 52-week high on Monday . The stock 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 Stock Performance

The business has a 50 day moving average of $59.98 and a 200-day moving average of $54.86. The company has a market capitalization of $3.64 billion, a P/E ratio of 8.36 and a beta of 1.56.

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

Several hedge funds and other institutional investors have recently modified their holdings of KRE. Main Management ETF Advisors LLC increased its holdings in shares of SPDR S&P Regional Banking ETF by 2.6% in the second quarter. Main Management ETF Advisors LLC now owns 2,538,750 shares of the exchange traded fund’s stock worth $124,653,000 after purchasing an additional 63,750 shares during the period. Toronto Dominion Bank increased its stake in SPDR S&P Regional Banking ETF by 195.9% in the 2nd quarter. Toronto Dominion Bank now owns 754,500 shares of the exchange traded fund’s stock worth $37,046,000 after acquiring an additional 499,500 shares during the last quarter. Mirae Asset Securities USA Inc. purchased a new stake in shares of SPDR S&P Regional Banking ETF in the 2nd quarter valued at about $36,825,000. National Bank of Canada FI boosted its position in shares of SPDR S&P Regional Banking ETF by 63.7% during the 2nd quarter. National Bank of Canada FI now owns 710,572 shares of the exchange traded fund’s stock valued at $34,725,000 after acquiring an additional 276,437 shares during the last quarter. Finally, SG Americas Securities LLC grew its holdings in shares of SPDR S&P Regional Banking ETF by 1,414.4% during the second quarter. SG Americas Securities LLC now owns 700,479 shares of the exchange traded fund’s stock worth $34,394,000 after purchasing an additional 654,225 shares in the last quarter.

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.