SPDR S&P Insurance ETF (NYSEARCA:KIE) Stock Crosses Above 50-Day Moving Average – Here’s What Happened

SPDR S&P Insurance ETF (NYSEARCA:KIE) crossed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $56.32 and traded as high as $57.88. SPDR S&P Insurance ETF shares last traded at $57.88, with a volume of 1,155,400 shares trading hands.

SPDR S&P Insurance ETF Stock Performance

The stock has a market cap of $457.25 million, a PE ratio of 14.40 and a beta of 0.64. The company’s 50-day moving average price is $56.32 and its 200 day moving average price is $57.95.

Institutional Investors Weigh In On SPDR S&P Insurance ETF

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of America Corp DE increased its position in shares of SPDR S&P Insurance ETF by 68.9% during the 1st quarter. Bank of America Corp DE now owns 551,932 shares of the exchange traded fund’s stock valued at $30,356,000 after purchasing an additional 225,106 shares during the last quarter. Walleye Capital LLC purchased a new stake in shares of SPDR S&P Insurance ETF during the 1st quarter valued at about $2,740,000. Parallel Advisors LLC purchased a new stake in SPDR S&P Insurance ETF in the 1st quarter worth approximately $140,000. Kaizen Financial Strategies increased its holdings in SPDR S&P Insurance ETF by 2.8% in the 1st quarter. Kaizen Financial Strategies now owns 7,350 shares of the exchange traded fund’s stock worth $424,000 after acquiring an additional 200 shares in the last quarter. Finally, Fifth Third Bancorp purchased a new stake in SPDR S&P Insurance ETF in the 1st quarter worth approximately $212,000.

About SPDR S&P Insurance ETF

The SPDR S&P Insurance ETF (the Fund), formerly SPDR KBW Insurance ETF, seeks to closely match the returns and characteristics of the S&P Banks Select Industry Index. The Fund invests all, but at least 80%, of its total assets in the securities comprising the Index. The Fund invests in all of the securities represented in the Index in approximately the same proportions as the 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.