SPDR S&P Bank ETF (NYSEARCA:KBE) Share Price Passes Below 200-Day Moving Average – Here’s Why

SPDR S&P Bank ETF (NYSEARCA:KBE)’s stock price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $60.75 and traded as low as $58.00. SPDR S&P Bank ETF shares last traded at $58.22, with a volume of 1,866,288 shares traded.

SPDR S&P Bank ETF Price Performance

The firm’s 50 day moving average price is $63.06 and its two-hundred day moving average price is $60.75. The stock has a market cap of $1.40 billion, a PE ratio of 12.60 and a beta of 0.97.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of KBE. Jones Financial Companies Lllp boosted its holdings in shares of SPDR S&P Bank ETF by 731.0% in the first quarter. Jones Financial Companies Lllp now owns 7,371 shares of the exchange traded fund’s stock worth $390,000 after acquiring an additional 6,484 shares during the period. Bank of New York Mellon Corp purchased a new position in shares of SPDR S&P Bank ETF in the second quarter valued at $9,606,000. Cetera Investment Advisers raised its stake in shares of SPDR S&P Bank ETF by 32.3% during the 2nd quarter. Cetera Investment Advisers now owns 40,972 shares of the exchange traded fund’s stock valued at $2,285,000 after purchasing an additional 10,013 shares during the period. TD Waterhouse Canada Inc. lifted its holdings in SPDR S&P Bank ETF by 24.9% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 3,509 shares of the exchange traded fund’s stock worth $201,000 after purchasing an additional 700 shares in the last quarter. Finally, Edmond DE Rothschild Holding S.A. lifted its holdings in SPDR S&P Bank ETF by 2.4% during the 2nd quarter. Edmond DE Rothschild Holding S.A. now owns 575,420 shares of the exchange traded fund’s stock worth $32,085,000 after purchasing an additional 13,706 shares in 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).