SPDR S&P Regional Banking ETF (NYSEARCA:KRE) Sets New 12-Month High – Should You Buy?

SPDR S&P Regional Banking ETF (NYSEARCA:KRE)’s share price hit a new 52-week high during trading on Thursday . The company traded as high as $74.51 and last traded at $74.36, with a volume of 856529 shares trading hands. The stock had previously closed at $73.97.

SPDR S&P Regional Banking ETF Price Performance

The company has a market cap of $4.50 billion, a PE ratio of 12.39 and a beta of 0.84. The business has a 50 day moving average of $69.99 and a 200 day moving average of $68.28.

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

Several institutional investors and hedge funds have recently modified their holdings of KRE. Morgan Stanley lifted its holdings in SPDR S&P Regional Banking ETF by 23.3% in the fourth quarter. Morgan Stanley now owns 13,915,604 shares of the exchange traded fund’s stock worth $901,870,000 after buying an additional 2,630,511 shares during the period. Clal Insurance Enterprises Holdings Ltd bought a new position in shares of SPDR S&P Regional Banking ETF in the 1st quarter worth approximately $83,392,000. MKP Capital Management L.L.C. bought a new position in shares of SPDR S&P Regional Banking ETF in the 4th quarter worth approximately $48,329,000. Jump Financial LLC purchased a new position in shares of SPDR S&P Regional Banking ETF in the 3rd quarter valued at approximately $46,715,000. Finally, Nan Shan Life Insurance Co. Ltd. lifted its position in SPDR S&P Regional Banking ETF by 3,515.3% during the third quarter. Nan Shan Life Insurance Co. Ltd. now owns 651,544 shares of the exchange traded fund’s stock valued at $41,243,000 after buying an additional 633,522 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.