SPDR S&P Regional Banking ETF (NYSEARCA:KRE) Hits New 1-Year High – Still a Buy?

SPDR S&P Regional Banking ETF (NYSEARCA:KRE)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $65.13 and last traded at $65.13, with a volume of 4646269 shares trading hands. The stock had previously closed at $59.13.

SPDR S&P Regional Banking ETF Stock Up 13.4 %

The firm has a market cap of $3.58 billion, a price-to-earnings ratio of 8.36 and a beta of 1.56. The stock has a fifty day moving average price of $57.14 and a 200-day moving average price of $53.15.

Institutional Trading of SPDR S&P Regional Banking ETF

A number of institutional investors have recently modified their holdings of KRE. Jane Street Group LLC boosted its stake in shares of SPDR S&P Regional Banking ETF by 136.5% in the first quarter. Jane Street Group LLC now owns 2,894,177 shares of the exchange traded fund’s stock valued at $145,519,000 after buying an additional 1,670,478 shares in the last quarter. Baymount Management LP purchased a new stake in SPDR S&P Regional Banking ETF during the first quarter worth $51,185,000. Mirae Asset Securities USA Inc. acquired a new position in shares of SPDR S&P Regional Banking ETF in the second quarter worth $36,825,000. DRW Securities LLC raised its holdings in shares of SPDR S&P Regional Banking ETF by 117.6% in the second quarter. DRW Securities LLC now owns 112,000 shares of the exchange traded fund’s stock worth $5,499,000 after acquiring an additional 748,248 shares during the last quarter. Finally, SG Americas Securities LLC raised its holdings in shares of SPDR S&P Regional Banking ETF by 1,414.4% in the second quarter. SG Americas Securities LLC now owns 700,479 shares of the exchange traded fund’s stock worth $34,394,000 after acquiring an additional 654,225 shares during the last quarter.

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.