SPDR S&P Bank ETF (NYSEARCA:KBE) Sets New 52-Week High – Here’s What Happened

SPDR S&P Bank ETF (NYSEARCA:KBE)’s share price reached a new 52-week high during trading on Wednesday . The company traded as high as $62.68 and last traded at $62.38, with a volume of 2301477 shares. The stock had previously closed at $60.38.

SPDR S&P Bank ETF Trading Up 3.3%

The firm has a 50-day moving average of $57.92 and a two-hundred day moving average of $57.65. The firm has a market cap of $1.49 billion, a price-to-earnings ratio of 12.60 and a beta of 0.97.

Institutional Investors Weigh In On SPDR S&P Bank ETF

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Wagner Wealth Management LLC bought a new stake in SPDR S&P Bank ETF in the 3rd quarter valued at $29,000. Monetary Management Group Inc. bought a new position in shares of SPDR S&P Bank ETF during the 3rd quarter worth about $30,000. FWL Investment Management LLC acquired a new position in shares of SPDR S&P Bank ETF during the third quarter valued at about $32,000. Ameritas Advisory Services LLC bought a new stake in shares of SPDR S&P Bank ETF in the second quarter valued at about $35,000. Finally, HHM Wealth Advisors LLC lifted its stake in shares of SPDR S&P Bank ETF by 3,886.4% in the third quarter. HHM Wealth Advisors LLC now owns 877 shares of the exchange traded fund’s stock valued at $52,000 after buying an additional 855 shares during the period.

About SPDR S&P Bank ETF

SPDR KBW Bank ETF, formerly The SPDR S&P Bank ETF (the Fund), seeks to closely match the returns and characteristics of the S&P Banks Select Industry Index. The S&P Banks Select Industry Index is a float adjusted modified-market, capitalization-weighted index that seeks to reflect the performance of publicly traded companies that do business as banks or thrifts.