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

SPDR S&P Insurance ETF (NYSEARCA:KIE)’s stock price 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.

SPDR S&P Insurance ETF Stock Performance

The firm has a market cap of $455.12 million, a PE ratio of 14.40 and a beta of 0.64. The firm’s 50-day moving average price is $56.37 and its two-hundred day moving average price is $57.95.

Institutional Trading of SPDR S&P Insurance ETF

Institutional investors have recently modified their holdings of the stock. 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 purchasing an additional 225,106 shares during the last quarter. Walleye Capital LLC purchased a new stake in SPDR S&P Insurance ETF in the 1st quarter valued at $2,740,000. Parallel Advisors LLC purchased a new position in SPDR S&P Insurance ETF during the 1st quarter worth $140,000. Kaizen Financial Strategies raised its position 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 worth $424,000 after buying an additional 200 shares during the last quarter. Finally, Fifth Third Bancorp purchased a new position in SPDR S&P Insurance ETF during the 1st quarter worth $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.