SPDR S&P Bank ETF (NYSEARCA:KBE) Shares Pass Above 200-Day Moving Average – Here’s What Happened

Shares of SPDR S&P Bank ETF (NYSEARCA:KBE) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $59.55 and traded as high as $63.71. SPDR S&P Bank ETF shares last traded at $63.00, with a volume of 1,887,989 shares traded.

SPDR S&P Bank ETF Stock Performance

The stock has a market cap of $1.44 billion, a price-to-earnings ratio of 12.60 and a beta of 0.97. The business’s 50 day moving average is $61.64 and its 200-day moving average is $59.55.

Institutional Investors Weigh In On SPDR S&P Bank ETF

Several institutional investors have recently bought and sold shares of the company. Wagner Wealth Management LLC acquired a new position in SPDR S&P Bank ETF in the 3rd quarter valued at $29,000. Monetary Management Group Inc. acquired a new stake in shares of SPDR S&P Bank ETF in the third quarter valued at about $30,000. FWL Investment Management LLC acquired a new stake in shares of SPDR S&P Bank ETF in the third quarter valued at about $32,000. Ameritas Advisory Services LLC purchased a new position in shares of SPDR S&P Bank ETF in the second quarter worth about $35,000. Finally, HHM Wealth Advisors LLC boosted its position in SPDR S&P Bank ETF by 3,886.4% during the third quarter. HHM Wealth Advisors LLC now owns 877 shares of the exchange traded fund’s stock worth $52,000 after acquiring an additional 855 shares during the last quarter.

About SPDR S&P Bank ETF

SPDR KBW Bank ETF, formerly The SPDR S&P Bank ETF (the Fund), seeks to closely match the returns and characteristics of the S&P Banks Select Industry Index. The S&P Banks Select Industry Index is a float adjusted modified-market, capitalization-weighted index that seeks to reflect the performance of publicly traded companies that do business as banks or thrifts. The S&P Banks Select Industry Index consists of common stocks of national money centers and regional banks or thrifts listed on the New York Stock Exchange (NYSE) or another United States national securities exchange, (NASDAQ)/National Market System (NMS).