SPDR S&P Insurance ETF (NYSEARCA:KIE) Shares Pass Above 50 Day Moving Average – What’s Next?

SPDR S&P Insurance ETF (NYSEARCA:KIE)’s stock price crossed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $63.05 and traded as high as $64.41. SPDR S&P Insurance ETF shares last traded at $63.85, with a volume of 698,619 shares traded.

SPDR S&P Insurance ETF Stock Performance

The firm’s fifty day simple moving average is $63.17 and its 200 day simple moving average is $59.02. The stock has a market capitalization of $630.13 million, a P/E ratio of 14.40 and a beta of 0.60.

Institutional Investors Weigh In On SPDR S&P Insurance ETF

Hedge funds have recently added to or reduced their stakes in the business. Qube Research & Technologies Ltd increased its stake in shares of SPDR S&P Insurance ETF by 173,743.6% in the 2nd quarter. Qube Research & Technologies Ltd now owns 259,027 shares of the exchange traded fund’s stock valued at $15,474,000 after acquiring an additional 258,878 shares in the last quarter. Millennium Management LLC bought a new stake in SPDR S&P Insurance ETF during the 4th quarter worth approximately $15,137,000. Bank of America Corp DE raised its position in SPDR S&P Insurance ETF by 68.9% in 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 buying an additional 225,106 shares during the last quarter. Jain Global LLC bought a new position in shares of SPDR S&P Insurance ETF during the fourth quarter valued at about $8,368,000. Finally, Goldman Sachs Group Inc. lifted its position in shares of SPDR S&P Insurance ETF by 9.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,486,296 shares of the exchange traded fund’s stock worth $89,401,000 after buying an additional 123,462 shares in the last quarter.

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.