SPDR S&P Bank ETF (NYSEARCA:KBE) Shares Pass Below 200 Day Moving Average – Here’s Why

SPDR S&P Bank ETF (NYSEARCA:KBE) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $60.63 and traded as low as $58.57. SPDR S&P Bank ETF shares last traded at $59.09, with a volume of 1,698,703 shares traded.

SPDR S&P Bank ETF Trading Down 0.2%

The company has a market capitalization of $1.42 billion, a PE ratio of 12.60 and a beta of 0.97. The company has a fifty day simple moving average of $62.45 and a 200-day simple moving average of $60.63.

Institutional Investors Weigh In On SPDR S&P Bank ETF

Hedge funds have recently modified their holdings of the company. Wagner Wealth Management LLC purchased a new position in SPDR S&P Bank ETF during the third quarter worth about $29,000. Monetary Management Group Inc. purchased a new stake in shares of SPDR S&P Bank ETF in the 3rd quarter valued at approximately $30,000. FWL Investment Management LLC purchased a new stake in shares of SPDR S&P Bank ETF in the 3rd quarter valued at approximately $32,000. Advocate Investing Services LLC acquired a new stake in shares of SPDR S&P Bank ETF during the 4th quarter worth approximately $43,000. Finally, Camelot Portfolios LLC acquired a new stake in shares of SPDR S&P Bank ETF during the 4th quarter worth approximately $50,000.

SPDR S&P Bank ETF Company Profile

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).