SPDR S&P Regional Banking ETF (NYSEARCA:KRE) Reaches New 1-Year High – Time to Buy?

SPDR S&P Regional Banking ETF (NYSEARCA:KRE)’s stock price hit a new 52-week high on Thursday . The stock traded as high as $77.37 and last traded at $77.20, with a volume of 4337235 shares changing hands. The stock had previously closed at $75.78.

SPDR S&P Regional Banking ETF Price Performance

The stock has a 50 day moving average price of $71.57 and a two-hundred day moving average price of $69.17. The company has a market capitalization of $5.14 billion, a price-to-earnings ratio of 12.39 and a beta of 0.84.

Institutional Trading of SPDR S&P Regional Banking ETF

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

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.