SPDR S&P Insurance ETF (NYSEARCA:KIE) Stock Breaks Below 50-Day Moving Average – Here’s Why

by · The Markets Daily

SPDR S&P Insurance ETF (NYSEARCA:KIE – Get Free Report) crossed below its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $63.47 and traded as low as $59.62. SPDR S&P Insurance ETF shares last traded at $59.67, with a volume of 1,150,658 shares trading hands.

SPDR S&P Insurance ETF Trading Up 0.1%

The business has a fifty day simple moving average of $63.38 and a two-hundred day simple moving average of $59.73. The company has a market cap of $528.43 million, a PE ratio of 14.40 and a beta of 0.59.

Hedge Funds Weigh In On SPDR S&P Insurance ETF

Institutional investors and hedge funds have recently bought and sold shares of the business. Kaizen Financial Strategies grew its stake in SPDR S&P Insurance ETF by 2.8% during the 1st quarter. Kaizen Financial Strategies now owns 7,350 shares of the exchange traded fund’s stock valued at $424,000 after acquiring an additional 200 shares in the last quarter. Rockefeller Capital Management L.P. lifted its stake in SPDR S&P Insurance ETF by 12.2% in the 4th quarter. Rockefeller Capital Management L.P. now owns 10,128 shares of the exchange traded fund’s stock worth $609,000 after purchasing an additional 1,098 shares in the last quarter. Ameritas Advisory Services LLC purchased a new position in SPDR S&P Insurance ETF in the 2nd quarter worth approximately $86,000. Parallel Advisors LLC acquired a new position in shares of SPDR S&P Insurance ETF during the 1st quarter worth approximately $140,000. Finally, Fifth Third Bancorp acquired a new position in shares of SPDR S&P Insurance ETF during the 1st quarter worth approximately $212,000.

About SPDR S&P Insurance ETF

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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.

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