SPDR S&P Insurance ETF (NYSEARCA:KIE) Shares Cross Below 50 Day Moving Average – Here’s What Happened

SPDR S&P Insurance ETF (NYSEARCA:KIE)’s share price crossed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $56.49 and traded as low as $54.97. SPDR S&P Insurance ETF shares last traded at $55.26, with a volume of 976,198 shares trading hands.

SPDR S&P Insurance ETF Stock Performance

The company’s 50 day moving average price is $56.49 and its 200-day moving average price is $57.80. The company has a market cap of $436.55 million, a PE ratio of 14.40 and a beta of 0.62.

Institutional Investors Weigh In On SPDR S&P Insurance ETF

Several large investors have recently modified their holdings of the stock. DV Trading LLC purchased a new stake in shares of SPDR S&P Insurance ETF during the 1st quarter worth approximately $220,000. Bank of America Corp DE increased its stake 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 worth $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 worth approximately $2,740,000. Parallel Advisors LLC purchased a new stake in shares of SPDR S&P Insurance ETF during the 1st quarter worth approximately $140,000. Finally, Kaizen Financial Strategies boosted 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 buying an additional 200 shares during the period.

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.