SPDR S&P Regional Banking ETF (NYSEARCA:KRE) Hits New 12-Month High – Here’s Why

Shares of SPDR S&P Regional Banking ETF (NYSEARCA:KRE) hit a new 52-week high on Tuesday . The stock traded as high as $78.21 and last traded at $78.21, with a volume of 6473497 shares changing hands. The stock had previously closed at $77.06.

SPDR S&P Regional Banking ETF Trading Up 1.0%

The stock has a 50 day simple moving average of $73.56 and a 200 day simple moving average of $70.08. The firm has a market capitalization of $4.76 billion, a PE ratio of 12.39 and a beta of 0.84.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Morgan Stanley boosted its position in SPDR S&P Regional Banking ETF by 23.3% during the 4th quarter. Morgan Stanley now owns 13,915,604 shares of the exchange traded fund’s stock valued at $901,870,000 after buying an additional 2,630,511 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of SPDR S&P Regional Banking ETF by 6.2% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 8,964,000 shares of the exchange traded fund’s stock valued at $580,957,000 after acquiring an additional 521,000 shares during the period. Two Sigma Investments LP increased its position in shares of SPDR S&P Regional Banking ETF by 19.0% in the third quarter. Two Sigma Investments LP now owns 3,919,400 shares of the exchange traded fund’s stock valued at $248,098,000 after acquiring an additional 626,836 shares during the period. Bessemer Group Inc. raised its stake in shares of SPDR S&P Regional Banking ETF by 17.3% during the first quarter. Bessemer Group Inc. now owns 2,266,123 shares of the exchange traded fund’s stock valued at $147,640,000 after acquiring an additional 333,799 shares during the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd bought a new position in shares of SPDR S&P Regional Banking ETF during the first quarter valued at about $83,392,000.

About SPDR S&P Regional Banking ETF

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.