SPDR S&P Bank ETF (NYSEARCA:KBE) Shares Cross Above Two Hundred Day Moving Average – Time to Sell?

Shares of SPDR S&P Bank ETF (NYSEARCA:KBE) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $63.43 and traded as high as $69.07. SPDR S&P Bank ETF shares last traded at $68.82, with a volume of 1,147,697 shares trading hands.

SPDR S&P Bank ETF Stock Performance

The company has a market capitalization of $1.53 billion, a PE ratio of 12.60 and a beta of 0.89. The stock’s fifty day simple moving average is $65.31 and its 200-day simple moving average is $63.43.

Hedge Funds Weigh In On SPDR S&P Bank ETF

Several institutional investors and hedge funds have recently modified their holdings of the company. Two Sigma Investments LP grew its stake in SPDR S&P Bank ETF by 13.8% in the 3rd quarter. Two Sigma Investments LP now owns 2,030,440 shares of the exchange traded fund’s stock worth $120,649,000 after acquiring an additional 246,600 shares during the period. Duquesne Family Office LLC purchased a new position in shares of SPDR S&P Bank ETF during the 3rd quarter worth $28,646,000. Royal Bank of Canada lifted its stake in shares of SPDR S&P Bank ETF by 262.0% during the 4th quarter. Royal Bank of Canada now owns 463,143 shares of the exchange traded fund’s stock worth $28,109,000 after purchasing an additional 335,194 shares during the period. Janney Montgomery Scott LLC lifted its stake in shares of SPDR S&P Bank ETF by 1,944.1% during the 1st quarter. Janney Montgomery Scott LLC now owns 334,848 shares of the exchange traded fund’s stock worth $19,940,000 after purchasing an additional 318,467 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in shares of SPDR S&P Bank ETF by 65.7% during the first quarter. Bank of New York Mellon Corp now owns 281,665 shares of the exchange traded fund’s stock worth $16,773,000 after purchasing an additional 111,649 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).