SPDR S&P Regional Banking ETF (NYSEARCA:KRE) Reaches New 12-Month High – Still a Buy?

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

SPDR S&P Regional Banking ETF Stock Down 0.9%

The firm has a fifty day simple moving average of $73.87 and a 200-day simple moving average of $70.22. The company has a market cap of $4.67 billion, a PE ratio of 12.39 and a beta of 0.84.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Fourth Dimension Wealth LLC grew its position in shares of SPDR S&P Regional Banking ETF by 41.5% during the second quarter. Fourth Dimension Wealth LLC now owns 737 shares of the exchange traded fund’s stock worth $55,000 after acquiring an additional 216 shares during the last quarter. Tufton Capital Management acquired a new stake in SPDR S&P Regional Banking ETF during the 2nd quarter worth $1,630,000. Benjamin Edwards Inc. acquired a new stake in SPDR S&P Regional Banking ETF during the 2nd quarter worth $228,000. Vanguard Capital Wealth Advisors purchased a new position in SPDR S&P Regional Banking ETF during the 2nd quarter worth $934,000. Finally, Nations Financial Group Inc. IA ADV purchased a new position in SPDR S&P Regional Banking ETF during the 2nd quarter worth $220,000.

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.