SPDR S&P Insurance ETF (NYSEARCA:KIE) Share Price Crosses Below Fifty Day Moving Average – What’s Next?

SPDR S&P Insurance ETF (NYSEARCA:KIE) shares crossed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $63.76 and traded as low as $62.12. SPDR S&P Insurance ETF shares last traded at $62.62, with a volume of 976,036 shares trading hands.

SPDR S&P Insurance ETF Trading Down 0.7%

The company has a market cap of $613.37 million, a price-to-earnings ratio of 14.40 and a beta of 0.59. The stock’s 50 day moving average price is $63.74 and its 200 day moving average price is $59.63.

Hedge Funds Weigh In On SPDR S&P Insurance ETF

A number of large investors have recently bought and sold shares of the stock. Goldman Sachs Group Inc. lifted its stake in shares of SPDR S&P Insurance ETF by 9.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,486,296 shares of the exchange traded fund’s stock valued at $89,401,000 after purchasing an additional 123,462 shares in the last quarter. J.Safra Asset Management Corp increased its position in SPDR S&P Insurance ETF by 3.3% during the 4th quarter. J.Safra Asset Management Corp now owns 719,781 shares of the exchange traded fund’s stock worth $43,295,000 after purchasing an additional 23,190 shares in the last quarter. Bank of America Corp DE increased its position in 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 in the last quarter. Walleye Capital LLC purchased a new position in SPDR S&P Insurance ETF in the first quarter valued at approximately $2,740,000. Finally, Jefferies Financial Group Inc. purchased a new position in SPDR S&P Insurance ETF in the fourth quarter valued at approximately $2,032,000.

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.